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

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

Palladyne AI Trading Up 0.5%

NASDAQ:PDYN opened at $6.13 on Friday. The company has a market cap of $302.45 million, a PE ratio of -9.01 and a beta of 3.65. Palladyne AI Corp. has a twelve month low of $4.14 and a twelve month high of $10.73. The company’s 50 day moving average is $5.81 and its two-hundred day moving average is $6.45.

Palladyne AI (NASDAQ:PDYN) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.80 million. As a group, analysts expect that Palladyne AI Corp. will post -0.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Trading of Palladyne AI

Several large investors have recently made changes to their positions in PDYN. Quarry LP acquired a new stake in shares of Palladyne AI in the third quarter worth $28,000. Osaic Holdings Inc. lifted its position in Palladyne AI by 94.3% during 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 acquired a new position in Palladyne AI during the fourth quarter valued at $44,000. Caitong International Asset Management Co. Ltd boosted its holdings in 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 last quarter. Finally, Atom Investors LP purchased a new stake in Palladyne AI in the fourth quarter valued at $56,000. 26.02% of the stock is owned by hedge funds and other institutional investors.

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.