Palladyne AI (NASDAQ:PDYN) Insider Stephen Sonne Sells 3,411 Shares of Stock

Palladyne AI Corp. (NASDAQ:PDYN) insider Stephen Sonne sold 3,411 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $5.11, for a total transaction of $17,430.21. Following the completion of the transaction, the insider owned 187,008 shares of the company’s stock, valued at $955,610.88. This trade represents a 1.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Palladyne AI Stock Performance

PDYN traded down $0.08 during mid-day trading on Friday, reaching $5.16. The stock had a trading volume of 1,640,006 shares, compared to its average volume of 1,285,065. The firm’s fifty day simple moving average is $8.02 and its two-hundred day simple moving average is $8.06. The stock has a market capitalization of $216.46 million, a P/E ratio of -3.05 and a beta of 3.74. Palladyne AI Corp. has a 52 week low of $2.15 and a 52 week high of $14.95.

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

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