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

Shares of Palladyne AI Corp. (NASDAQ:PDYN) have earned an average rating of “Hold” from the six research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $11.00.

PDYN has been the subject of a number of research analyst reports. Northland Securities set a $15.00 price objective on shares of Palladyne AI in a research report on Monday. Wall Street Zen cut shares of Palladyne AI from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Jefferies Financial Group upgraded shares of Palladyne AI to a “hold” rating in a research report on Wednesday. Lake Street Capital assumed coverage on shares of Palladyne AI in a research report on Friday, April 17th. They set a “buy” rating and a $11.00 price objective for the company. Finally, Zacks Research raised shares of Palladyne AI to a “hold” rating in a report on Wednesday, April 8th.

Insider Transactions at Palladyne AI

In other news, CFO Trevor Thatcher sold 4,561 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $6.14, for a total transaction of $28,004.54. Following the completion of the sale, the chief financial officer owned 175,697 shares of the company’s stock, valued at $1,078,779.58. This represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Denis Garagic sold 17,176 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $6.14, for a total transaction of $105,460.64. Following the sale, the chief technology officer directly owned 559,959 shares of the company’s stock, valued at $3,438,148.26. The trade was a 2.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 26,982 shares of company stock valued at $165,669 over the last 90 days. 13.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palladyne AI

Large investors have recently modified their holdings of the business. Quarry LP purchased a new stake in shares of Palladyne AI during the third quarter worth $28,000. Osaic Holdings Inc. grew its holdings in shares of Palladyne AI by 94.3% in the second quarter. Osaic Holdings Inc. now owns 5,098 shares of the company’s stock valued at $44,000 after purchasing an additional 2,474 shares during the period. Boothbay Fund Management LLC purchased a new stake in shares of Palladyne AI in the fourth quarter valued at about $44,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Palladyne AI by 103.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 12,484 shares of the company’s stock valued at $53,000 after purchasing an additional 6,343 shares during the period. Finally, Atom Investors LP purchased a new stake in shares of Palladyne AI in the fourth quarter valued at about $56,000. Hedge funds and other institutional investors own 26.02% of the company’s stock.

Palladyne AI Price Performance

PDYN opened at $6.41 on Friday. The firm has a fifty day moving average price of $6.70 and a 200 day moving average price of $6.38. Palladyne AI has a 1 year low of $4.14 and a 1 year high of $13.00. The stock has a market cap of $298.00 million, a P/E ratio of -10.51 and a beta of 3.59.

Palladyne AI (NASDAQ:PDYN) last posted its quarterly earnings data 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). The company had revenue of $3.54 million for the quarter, compared to analyst estimates of $4.93 million. Palladyne AI had a negative return on equity of 49.17% and a negative net margin of 358.04%. Equities analysts expect that Palladyne AI will post -0.91 EPS for the current 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.