Palladyne AI (NASDAQ:PDYN) CFO Trevor Thatcher Sells 4,636 Shares of Stock

Palladyne AI Corp. (NASDAQ:PDYN) CFO Trevor Thatcher sold 4,636 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $6.16, for a total value of $28,557.76. Following the sale, the chief financial officer directly owned 319,602 shares in the company, valued at $1,968,748.32. This trade represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Palladyne AI Stock Up 0.5%

NASDAQ:PDYN opened at $6.13 on Friday. Palladyne AI Corp. has a 1-year low of $4.14 and a 1-year high of $10.73. The firm has a market capitalization of $302.45 million, a price-to-earnings ratio of -9.01 and a beta of 3.65. The stock has a fifty day simple moving average of $5.81 and a 200 day simple moving average of $6.45.

Palladyne AI (NASDAQ:PDYN) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). The company had revenue of $5.78 million during the quarter, compared to analysts’ expectations of $5.80 million. Palladyne AI had a negative return on equity of 53.29% and a negative net margin of 254.75%. Equities analysts predict that Palladyne AI Corp. will post -0.95 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of Palladyne AI to a “hold” rating in a report on Wednesday, June 10th. Northland Securities set a $15.00 price objective on shares of Palladyne AI in a research report on Monday, June 8th. Alliance Global Partners restated a “buy” rating on shares of Palladyne AI in a report on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Palladyne AI in a report on Monday, August 3rd. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $11.00.

Institutional Investors Weigh In On Palladyne AI

Several institutional investors have recently made changes to their positions in PDYN. Symphony Financial Ltd. Co. bought a new position in Palladyne AI during the second quarter valued at about $184,000. Headlands Technologies LLC acquired a new stake in shares of Palladyne AI during the 2nd quarter worth approximately $123,000. Key Client Fiduciary Advisors LLC bought a new stake in Palladyne AI in the 2nd quarter valued at $64,000. Arkadios Wealth Advisors acquired a new stake in Palladyne AI in the 1st quarter valued at $375,000. Finally, Royal Bank of Canada grew its stake in Palladyne AI by 14.6% during the first quarter. Royal Bank of Canada now owns 90,825 shares of the company’s stock worth $551,000 after buying an additional 11,565 shares during the last quarter. 26.02% of the stock is currently owned by institutional investors and hedge funds.

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. 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.