Palladyne AI (NASDAQ:PDYN) CFO Trevor Thatcher Sells 2,648 Shares

Palladyne AI Corp. (NASDAQ:PDYN) CFO Trevor Thatcher sold 2,648 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $5.11, for a total transaction of $13,531.28. Following the completion of the transaction, the chief financial officer directly owned 164,937 shares in the company, valued at $842,828.07. This trade represents a 1.58% 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 hyperlink.

Palladyne AI Stock Down 1.5%

PDYN traded down $0.08 on Friday, reaching $5.16. The company had a trading volume of 1,640,006 shares, compared to its average volume of 1,285,065. Palladyne AI Corp. has a 1 year low of $2.15 and a 1 year high of $14.95. The stock has a market capitalization of $216.46 million, a PE ratio of -3.05 and a beta of 3.74. The stock has a 50-day moving average price of $8.02 and a 200-day moving average price of $8.06.

Palladyne AI (NASDAQ:PDYN) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.11. Palladyne AI had a negative return on equity of 133.19% and a negative net margin of 953.45%.The company had revenue of $0.86 million for the quarter, compared to analyst estimates of $1.15 million.

Institutional Investors Weigh In On Palladyne AI

Several large investors have recently modified their holdings of PDYN. PNC Financial Services Group Inc. acquired a new stake in shares of Palladyne AI during the first quarter worth $35,000. Covestor Ltd increased its stake in Palladyne AI by 5,657.0% in the 1st quarter. Covestor Ltd now owns 14,047 shares of the company’s stock valued at $83,000 after buying an additional 13,803 shares during the period. EntryPoint Capital LLC purchased a new position in Palladyne AI during the 1st quarter worth $673,000. AlphaQuest LLC acquired a new stake in shares of Palladyne AI in the 1st quarter worth $132,000. Finally, OMERS ADMINISTRATION Corp boosted its holdings in shares of Palladyne AI by 8.6% in the first quarter. OMERS ADMINISTRATION Corp now owns 26,600 shares of the company’s stock valued at $156,000 after acquiring an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 26.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PDYN shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Palladyne AI in a research note on Wednesday. Wall Street Zen raised shares of Palladyne AI from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Finally, Jefferies Financial Group began coverage on shares of Palladyne AI in a research report on Thursday, September 11th. They issued a “hold” rating and a $8.00 price target for the company. 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 stock. According to data from MarketBeat, Palladyne AI presently has a consensus rating of “Hold” and an average target price of $11.50.

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.