Trevor Thatcher Sells 4,561 Shares of Palladyne AI (NASDAQ:PDYN) Stock

Palladyne AI Corp. (NASDAQ:PDYN) CFO Trevor Thatcher sold 4,561 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $6.14, for a total transaction of $28,004.54. Following the completion of the transaction, the chief financial officer owned 175,697 shares in the company, valued at approximately $1,078,779.58. This represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Trevor Thatcher also recently made the following trade(s):

• On Thursday, March 12th, Trevor Thatcher sold 7,649 shares of Palladyne AI stock. The shares were sold at an average price of $7.55, for a total transaction of $57,749.95.

Palladyne AI Price Performance

NASDAQ:PDYN opened at $6.40 on Friday. Palladyne AI Corp. has a one year low of $4.14 and a one year high of $13.00. The company has a market cap of $297.57 million, a P/E ratio of -10.49 and a beta of 3.52. The firm’s fifty day moving average price is $6.39 and its two-hundred day moving average price is $6.27.

Palladyne AI (NASDAQ:PDYN) last posted its earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.12). Palladyne AI had a negative net margin of 358.04% and a negative return on equity of 49.17%. The firm had revenue of $3.54 million during the quarter, compared to analyst estimates of $4.93 million. As a group, equities research analysts expect that Palladyne AI Corp. will post -0.87 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on PDYN. Weiss Ratings downgraded Palladyne AI from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Lake Street Capital started coverage on Palladyne AI in a report on Friday, April 17th. They set a “buy” rating and a $11.00 target price for the company. Zacks Research raised Palladyne AI to a “hold” rating in a report on Wednesday, April 8th. Jefferies Financial Group reissued a “hold” rating and set a $7.00 target price on shares of Palladyne AI in a report on Wednesday, May 6th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Palladyne AI in a report on Tuesday, May 5th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Palladyne AI currently has an average rating of “Hold” and an average target price of $9.33.

Institutional Investors Weigh In On Palladyne AI

A number of hedge funds and other institutional investors have recently modified their holdings of PDYN. Millennium Management LLC lifted its holdings in shares of Palladyne AI by 767.3% during the third quarter. Millennium Management LLC now owns 565,693 shares of the company’s stock worth $4,859,000 after buying an additional 500,472 shares in the last quarter. Geode Capital Management LLC raised its stake in Palladyne AI by 172.9% in the second quarter. Geode Capital Management LLC now owns 592,640 shares of the company’s stock valued at $5,133,000 after purchasing an additional 375,440 shares in the last quarter. Themes Management Co LLC raised its stake in Palladyne AI by 561.7% in the first quarter. Themes Management Co LLC now owns 392,259 shares of the company’s stock valued at $2,381,000 after purchasing an additional 332,982 shares in the last quarter. Vanguard Group Inc. raised its stake in Palladyne AI by 26.0% in the third quarter. Vanguard Group Inc. now owns 1,528,052 shares of the company’s stock valued at $13,126,000 after purchasing an additional 315,660 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in Palladyne AI by 96.5% in the third quarter. Raymond James Financial Inc. now owns 412,586 shares of the company’s stock valued at $3,544,000 after purchasing an additional 202,571 shares in the last quarter. Institutional investors and hedge funds own 26.02% of the company’s stock.

Palladyne AI Company Profile

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. The company's software platform enables robotic systems to perceive their environment and quickly adapt to changing circumstances by generalizing from their experience using dynamic real-time operations without extensive programming and with minimal robot training.