Palladyne AI (NASDAQ:PDYN) Insider Sells 6,753 Shares

Palladyne AI Corp. (NASDAQ:PDYN) insider Kristi Martindale sold 6,753 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $5.11, for a total transaction of $34,507.83. Following the transaction, the insider owned 305,483 shares of the company’s stock, valued at approximately $1,561,018.13. This represents a 2.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Palladyne AI Stock Performance

Shares of PDYN stock traded down $0.08 during trading hours on Friday, hitting $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 12 month low of $2.15 and a 12 month high of $14.95. The firm’s fifty day moving average is $8.02 and its 200 day moving average is $8.06. The firm has a market capitalization of $216.46 million, a price-to-earnings ratio of -3.05 and a beta of 3.74.

Palladyne AI (NASDAQ:PDYN) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $0.86 million for the quarter, compared to analysts’ expectations of $1.15 million.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PDYN. Wall Street Zen upgraded shares of Palladyne AI from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Palladyne AI in a research note on Wednesday. Finally, Jefferies Financial Group initiated coverage on shares of Palladyne AI in a research note on Thursday, September 11th. They issued a “hold” rating and a $8.00 target price for the company. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PDYN. Quarry LP bought a new stake in Palladyne AI during the 3rd quarter worth about $28,000. Osaic Holdings Inc. lifted its position in shares of Palladyne AI by 94.3% during the second quarter. Osaic Holdings Inc. now owns 5,098 shares of the company’s stock worth $44,000 after purchasing an additional 2,474 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Palladyne AI during the second quarter worth approximately $51,000. PNC Financial Services Group Inc. bought a new stake in shares of Palladyne AI during the first quarter valued at approximately $35,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Palladyne AI in the third quarter valued at approximately $61,000. 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.