Palladyne AI Corp. (NASDAQ:PDYN) Receives $9.33 Consensus PT from Analysts

Palladyne AI Corp. (NASDAQ:PDYN) has received a consensus rating of “Hold” from the six brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $9.3333.

PDYN has been the topic of a number of recent analyst reports. Weiss Ratings cut Palladyne AI from a “hold (c-)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Jefferies Financial Group reaffirmed a “hold” rating and set a $7.00 price target on shares of Palladyne AI in a report on Wednesday, May 6th. Northland Securities initiated coverage on Palladyne AI in a report on Wednesday, April 1st. They set an “outperform” rating and a $10.00 price target on the stock. Wall Street Zen lowered shares of Palladyne AI from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Finally, Zacks Research upgraded shares of Palladyne AI to a “hold” rating in a research note on Wednesday, April 8th.

Insiders Place Their Bets

In other Palladyne AI news, CFO Trevor Thatcher sold 7,649 shares of Palladyne AI stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $7.55, for a total value of $57,749.95. Following the transaction, the chief financial officer owned 183,288 shares in the company, valued at approximately $1,383,824.40. The trade was a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Denis Garagic sold 12,945 shares of Palladyne AI stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $7.55, for a total transaction of $97,734.75. Following the completion of the transaction, the chief technology officer owned 592,284 shares in the company, valued at approximately $4,471,744.20. This trade represents a 2.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 27,396 shares of company stock worth $206,840. 13.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PDYN. Themes Management Co LLC grew its holdings in shares of Palladyne AI by 561.7% during the 1st quarter. Themes Management Co LLC now owns 392,259 shares of the company’s stock worth $2,381,000 after purchasing an additional 332,982 shares in the last quarter. Sei Investments Co. acquired a new stake in shares of Palladyne AI during the 1st quarter worth approximately $89,000. Cetera Investment Advisers grew its holdings in shares of Palladyne AI by 25.6% during the 1st quarter. Cetera Investment Advisers now owns 13,769 shares of the company’s stock worth $84,000 after purchasing an additional 2,803 shares in the last quarter. Independent Financial Group LLC acquired a new stake in shares of Palladyne AI during the 1st quarter worth approximately $174,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Palladyne AI by 27.4% during the 1st quarter. Bank of New York Mellon Corp now owns 75,908 shares of the company’s stock worth $461,000 after purchasing an additional 16,315 shares in the last quarter. Institutional investors own 26.02% of the company’s stock.

Palladyne AI Price Performance

PDYN opened at $6.45 on Tuesday. The stock has a market cap of $299.86 million, a P/E ratio of -10.57 and a beta of 3.52. The stock’s 50 day simple moving average is $6.60 and its 200 day simple moving average is $6.34. Palladyne AI has a 1-year low of $4.14 and a 1-year high of $13.00.

Palladyne AI (NASDAQ:PDYN) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). Palladyne AI had a negative return on equity of 49.17% and a negative net margin of 358.04%.The business had revenue of $3.54 million for the quarter, compared to analysts’ expectations of $4.93 million. Research analysts expect that Palladyne AI will post -0.87 EPS for the current fiscal year.

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.