Palladyne AI’s (PDYN) “Sell (E+)” Rating Reiterated at Weiss Ratings

Palladyne AI (NASDAQ:PDYN)‘s stock had its “sell (e+)” rating reaffirmed by equities research analysts at Weiss Ratings in a research note issued on Saturday,Weiss Ratings reports.

Other analysts have also issued research reports about the stock. Jefferies Financial Group assumed coverage on shares of Palladyne AI in a research report on Thursday, September 11th. They set a “hold” rating and a $8.00 price target on the stock. Wall Street Zen lowered shares of Palladyne AI from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Palladyne AI presently has a consensus rating of “Hold” and a consensus price target of $11.50.

Palladyne AI Price Performance

PDYN opened at $8.26 on Friday. The company’s 50 day simple moving average is $8.22 and its two-hundred day simple moving average is $7.95. Palladyne AI has a 1-year low of $1.69 and a 1-year high of $14.95. The firm has a market capitalization of $346.51 million, a price-to-earnings ratio of -4.42 and a beta of 3.75.

Insider Buying and Selling at Palladyne AI

In other Palladyne AI news, insider Kristi Martindale sold 6,406 shares of the business’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $7.42, for a total value of $47,532.52. Following the completion of the transaction, the insider owned 312,236 shares in the company, valued at $2,316,791.12. The trade was a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Denis Garagic sold 14,809 shares of the business’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $7.42, for a total transaction of $109,882.78. Following the completion of the transaction, the chief technology officer owned 584,859 shares of the company’s stock, valued at approximately $4,339,653.78. This trade represents a 2.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,963 shares of company stock valued at $200,065. Insiders own 13.40% of the company’s stock.

Hedge Funds Weigh In On Palladyne AI

A number of institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of Palladyne AI by 172.9% during the second quarter. Geode Capital Management LLC now owns 592,640 shares of the company’s stock worth $5,133,000 after purchasing an additional 375,440 shares in the last quarter. Soviero Asset Management LP acquired a new position in shares of Palladyne AI during the second quarter worth $1,645,000. Cadent Capital Advisors LLC acquired a new position in shares of Palladyne AI during the third quarter worth $1,494,000. Jump Financial LLC acquired a new position in shares of Palladyne AI during the second quarter worth $1,177,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Palladyne AI by 507.2% during the first quarter. Goldman Sachs Group Inc. now owns 115,407 shares of the company’s stock worth $679,000 after purchasing an additional 96,402 shares in the last quarter. Institutional investors and hedge funds own 26.02% of the company’s stock.

About Palladyne AI

Palladyne AI Corp., a software company, focuses on delivering software that enhances the utility and functionality of third-party stationary and mobile robotic systems in the United States. Its Artificial Intelligence (AI)/ Machine Learning (ML) software platform enables robots to observe, learn, reason, and act in structured and unstructured environments.