Denis Garagic Sells 17,255 Shares of Palladyne AI (NASDAQ:PDYN) Stock

Palladyne AI Corp. (NASDAQ:PDYN) CTO Denis Garagic sold 17,255 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $6.16, for a total value of $106,290.80. Following the completion of the transaction, the chief technology officer directly owned 990,798 shares in the company, valued at approximately $6,103,315.68. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Palladyne AI Trading Up 0.5%

PDYN stock opened at $6.13 on Friday. Palladyne AI Corp. has a twelve month low of $4.14 and a twelve month high of $10.73. The company has a market capitalization of $302.45 million, a P/E ratio of -9.01 and a beta of 3.65. The firm has a 50 day simple moving average of $5.81 and a 200-day simple moving average of $6.45.

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

Institutional Trading of Palladyne AI

A number of institutional investors and hedge funds have recently modified their holdings of PDYN. Symphony Financial Ltd. Co. acquired a new stake in shares of Palladyne AI during the second quarter worth $184,000. Headlands Technologies LLC bought a new stake in shares of Palladyne AI during the 2nd quarter valued at about $123,000. Key Client Fiduciary Advisors LLC bought a new stake in shares of Palladyne AI during the 2nd quarter valued at about $64,000. Arkadios Wealth Advisors acquired a new stake in Palladyne AI during the first quarter worth about $375,000. Finally, Royal Bank of Canada raised 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 acquiring an additional 11,565 shares during the period. 26.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.