Palladyne AI Corp. (PDYN) – What Are Investment Firms Saying About This Stock?

Shares of Palladyne AI Corp. (NASDAQ:PDYN) have been assigned a consensus rating of “Hold” from the six ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $11.00.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Palladyne AI in a research note on Friday, October 30th.

Insider Transactions at Palladyne AI

In other Palladyne AI news, CFO Trevor Thatcher sold 4,636 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $6.16, for a total transaction of $28,557.76. Following the completion of the transaction, the chief financial officer directly owned 319,602 shares of the company’s stock, valued at $1,968,748.32. The trade was a 1.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Sonne sold 5,341 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $6.16, for a total transaction of $32,900.56. Following the transaction, the insider directly owned 340,690 shares of the company’s stock, valued at $2,098,650.40. The trade was a 1.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 27,232 shares of company stock worth $167,749. Insiders own 13.40% of the company’s stock.

Institutional Trading of Palladyne AI

Several hedge funds have recently added to or reduced their stakes in PDYN. Themes Management Co LLC increased its holdings in shares of Palladyne AI by 561.7% in the 1st 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 during the period. International Assets Investment Management LLC boosted its holdings in shares of Palladyne AI by 226.1% during the first quarter. International Assets Investment Management LLC now owns 11,466 shares of the company’s stock worth $71,000 after purchasing an additional 7,950 shares during the period. Engineers Gate Manager LP purchased a new position in Palladyne AI during the second quarter valued at approximately $167,000. Symphony Financial Ltd. Co. purchased a new position in Palladyne AI during the second quarter valued at approximately $184,000. Finally, Headlands Technologies LLC acquired a new position in Palladyne AI in the 2nd quarter valued at approximately $123,000. Institutional investors own 26.02% of the company’s stock.

Palladyne AI Stock Performance

Palladyne AI stock opened at $3.02 on Tuesday. Palladyne AI has a 1 year low of $2.66 and a 1 year high of $10.00. The firm’s 50-day moving average is $4.78 and its 200-day moving average is $6.03. The company has a market cap of $149.00 million, a P/E ratio of -4.44 and a beta of 3.87.

Palladyne AI (NASDAQ:PDYN) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The business had revenue of $5.78 million for the quarter, compared to analyst estimates of $5.80 million. Palladyne AI had a negative return on equity of 53.29% and a negative net margin of 254.75%. As a group, sell-side analysts predict that Palladyne AI will post -0.95 earnings per share for the current year.

Palladyne AI Company Profile

Palladyne AI Corp. develops artificial intelligence software designed to help robots perceive their surroundings, learn from experience and perform complex physical tasks with greater autonomy. Its technology is intended to enable robots to operate in dynamic, unstructured environments while reducing the need for detailed task-by-task programming.

The company’s software platform, Palladyne IQ, uses machine learning, computer vision and related AI capabilities to support robotic perception, decision-making and control.