Palladyne AI (NASDAQ:PDYN) Upgraded by Jefferies Financial Group to Hold Rating

Jefferies Financial Group upgraded shares of Palladyne AI (NASDAQ:PDYN) to a hold rating in a research note issued to investors on Wednesday,Zacks.com reports.

PDYN has been the topic of several other research reports. Alliance Global Partners reissued a “buy” rating on shares of Palladyne AI in a report on Tuesday, May 5th. Zacks Research raised shares of Palladyne AI to a “hold” rating in a report on Wednesday, April 8th. Weiss Ratings lowered shares of Palladyne AI from a “hold (c-)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Wall Street Zen lowered shares of Palladyne AI from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Finally, Lake Street Capital assumed coverage on shares of Palladyne AI in a report on Friday, April 17th. They issued a “buy” rating and a $11.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Palladyne AI has an average rating of “Hold” and an average price target of $11.00.

Palladyne AI Trading Down 3.4%

Shares of PDYN stock opened at $6.19 on Wednesday. Palladyne AI has a 1 year low of $4.14 and a 1 year high of $13.00. The firm’s fifty day simple moving average is $6.68 and its 200 day simple moving average is $6.36. The firm has a market capitalization of $287.80 million, a P/E ratio of -10.15 and a beta of 3.59.

Palladyne AI (NASDAQ:PDYN) last announced its 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 the consensus estimate of $4.93 million. Palladyne AI had a negative return on equity of 49.17% and a negative net margin of 358.04%. Equities research analysts anticipate that Palladyne AI will post -0.91 EPS for the current fiscal year.

Insider Transactions at Palladyne AI

In other news, CFO Trevor Thatcher sold 4,561 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $6.14, for a total value of $28,004.54. Following the sale, the chief financial officer owned 175,697 shares of the company’s stock, valued at approximately $1,078,779.58. This represents a 2.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Sonne sold 5,245 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $6.14, for a total transaction of $32,204.30. Following the completion of the sale, the insider directly owned 197,490 shares in the company, valued at approximately $1,212,588.60. The trade was a 2.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 26,982 shares of company stock valued at $165,669. 13.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Palladyne AI

Several large investors have recently made changes to their positions in the company. Osaic Holdings Inc. grew its holdings in shares of Palladyne AI by 94.3% in the 2nd quarter. Osaic Holdings Inc. now owns 5,098 shares of the company’s stock worth $44,000 after purchasing an additional 2,474 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Palladyne AI by 25.6% in the 1st quarter. Cetera Investment Advisers now owns 13,769 shares of the company’s stock worth $84,000 after purchasing an additional 2,803 shares during the last quarter. Quarry LP acquired a new position in Palladyne AI during the 3rd quarter worth about $28,000. Bridgeway Capital Management LLC lifted its position in Palladyne AI by 9.7% during the 2nd quarter. Bridgeway Capital Management LLC now owns 48,700 shares of the company’s stock worth $422,000 after buying an additional 4,300 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Palladyne AI by 136.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,759 shares of the company’s stock worth $93,000 after buying an additional 6,213 shares in the last quarter. 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.