Palladyne AI Corp. (PDYN) – What Are Researchers Saying About This Stock?

Palladyne AI Corp. (NASDAQ:PDYN) has earned a consensus recommendation of “Hold” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $11.00.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Palladyne AI in a research note on Monday, August 3rd.

Palladyne AI Stock Down 2.2%

Shares of NASDAQ PDYN opened at $4.07 on Friday. Palladyne AI has a 1 year low of $3.89 and a 1 year high of $10.08. The firm’s 50-day moving average is $5.62 and its 200-day moving average is $6.02.

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

Insiders Place Their Bets

In other news, insider Stephen Sonne sold 5,341 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $6.16, for a total value of $32,900.56. Following the transaction, the insider owned 340,690 shares of the company’s stock, valued at $2,098,650.40. This represents a 1.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Trevor Thatcher sold 4,636 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $6.16, for a total value of $28,557.76. Following the completion of the transaction, the chief financial officer directly owned 319,602 shares in the company, valued at approximately $1,968,748.32. This trade represents a 1.43% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 27,232 shares of company stock valued at $167,749. Company insiders own 13.40% of the company’s stock.

Institutional Investors Weigh In On Palladyne AI

A number of institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its stake in Palladyne AI by 4.6% in the second quarter. Envestnet Asset Management Inc. now owns 53,877 shares of the company’s stock valued at $328,000 after buying an additional 2,358 shares during the period. Engineers Gate Manager LP bought a new position in Palladyne AI during the second quarter worth about $167,000. Symphony Financial Ltd. Co. acquired a new position in shares of Palladyne AI during the 2nd quarter worth about $184,000. Headlands Technologies LLC acquired a new position in shares of Palladyne AI during the 2nd quarter worth about $123,000. Finally, Key Client Fiduciary Advisors LLC acquired a new position in shares of Palladyne AI during the 2nd quarter worth about $64,000. 26.02% of the stock is owned by institutional investors and hedge funds.

About Palladyne AI

Palladyne AI Corp. develops artificial intelligence software designed to enable robots and autonomous machines to operate in complex, unstructured environments. Its technology is intended to help robotic systems perceive their surroundings, learn from experience, make decisions and perform physical tasks with reduced human intervention.

The company’s software offerings include Palladyne IQ, an artificial intelligence platform for robotic perception, learning and autonomy, and Palladyne Pilot, which is designed to provide autonomous control for robotic systems.