Palladyne AI (NASDAQ:PDYN) Given New $8.00 Price Target at Jefferies Financial Group

Palladyne AI (NASDAQ:PDYN) had its price target lifted by stock analysts at Jefferies Financial Group from $7.00 to $8.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Jefferies Financial Group’s target price points to a potential downside of 0.63% from the stock’s previous close.

Several other equities analysts have also recently issued reports on PDYN. Weiss Ratings raised shares of Palladyne AI from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday. Wall Street Zen cut shares of Palladyne AI from a “hold” rating to a “sell” rating in a research note on Saturday. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.00.

Palladyne AI Stock Up 3.0%

PDYN traded up $0.23 on Tuesday, hitting $8.05. 2,172,385 shares of the company traded hands, compared to its average volume of 5,064,102. Palladyne AI has a 12-month low of $4.14 and a 12-month high of $13.00. The company has a 50 day moving average of $6.69 and a 200-day moving average of $6.93. The stock has a market capitalization of $338.46 million, a PE ratio of 36.32 and a beta of 3.78.

Palladyne AI (NASDAQ:PDYN) last released its earnings results on Thursday, March 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. Palladyne AI had a return on equity of 8.82% and a net margin of 191.37%.The business had revenue of $1.66 million for the quarter, compared to analyst estimates of $0.81 million.

Hedge Funds Weigh In On Palladyne AI

A number of large investors have recently made changes to their positions in PDYN. Quarry LP acquired a new stake in shares of Palladyne AI in the third quarter valued at about $28,000. Osaic Holdings Inc. grew its position in 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 buying an additional 2,474 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new position in Palladyne AI in the second quarter valued at about $51,000. Russell Investments Group Ltd. purchased a new position in Palladyne AI in the third quarter valued at about $61,000. Finally, Virtu Financial LLC acquired a new stake in shares of Palladyne AI during the 3rd quarter valued at approximately $86,000. Hedge funds and other institutional investors 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.