Palladyne AI (NASDAQ:PDYN) Insider Sells $32,204.30 in Stock

Palladyne AI Corp. (NASDAQ:PDYN) insider Stephen Sonne sold 5,245 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $6.14, for a total value of $32,204.30. Following the sale, the insider directly owned 197,490 shares in the company, valued at $1,212,588.60. This represents a 2.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Stephen Sonne also recently made the following trade(s):

• On Thursday, March 12th, Stephen Sonne sold 6,802 shares of Palladyne AI stock. The stock was sold at an average price of $7.55, for a total value of $51,355.10.

Palladyne AI Price Performance

Shares of NASDAQ:PDYN opened at $6.40 on Friday. The company has a market capitalization of $297.54 million, a P/E ratio of -10.49 and a beta of 3.52. Palladyne AI Corp. has a 1 year low of $4.14 and a 1 year high of $13.00. The business’s 50 day simple moving average is $6.39 and its 200 day simple moving average is $6.27.

Palladyne AI (NASDAQ:PDYN) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) 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%. On average, sell-side analysts anticipate that Palladyne AI Corp. will post -0.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Jefferies Financial Group restated a “hold” rating and set a $7.00 price objective on shares of Palladyne AI in a research report on Wednesday, May 6th. Zacks Research upgraded shares of Palladyne AI to a “hold” rating in a research report on Wednesday, April 8th. 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. Northland Securities assumed coverage on shares of Palladyne AI in a research report on Wednesday, April 1st. They set an “outperform” rating and a $10.00 price objective for the company. Finally, Alliance Global Partners restated a “buy” rating on shares of Palladyne AI in a research report on Tuesday, May 5th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $9.33.

Institutional Trading of Palladyne AI

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

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.