Insider Selling: Palladyne AI (NASDAQ:PDYN) CTO Sells 17,176 Shares of Stock

Palladyne AI Corp. (NASDAQ:PDYN) CTO Denis Garagic sold 17,176 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $6.14, for a total transaction of $105,460.64. Following the completion of the sale, the chief technology officer directly owned 559,959 shares of the company’s stock, valued at approximately $3,438,148.26. The trade was a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Denis Garagic also recently made the following trade(s):

• On Thursday, March 12th, Denis Garagic sold 12,945 shares of Palladyne AI stock. The shares were sold at an average price of $7.55, for a total transaction of $97,734.75.

Palladyne AI Stock Up 4.0%

Shares of Palladyne AI stock traded up $0.24 during trading on Thursday, reaching $6.21. The company’s stock had a trading volume of 1,023,359 shares, compared to its average volume of 1,328,346. The business’s 50-day moving average price is $6.41 and its 200-day moving average price is $6.27. The firm has a market cap of $288.70 million, a PE ratio of -10.18 and a beta of 3.52. Palladyne AI Corp. has a 52 week low of $4.14 and a 52 week high of $13.00.

Palladyne AI (NASDAQ:PDYN) last issued its earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The business 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 predict that Palladyne AI Corp. will post -0.87 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. United Capital Management of KS Inc. bought a new stake in Palladyne AI in the third quarter valued at approximately $441,000. Quantbot Technologies LP bought a new stake in Palladyne AI in the third quarter valued at approximately $597,000. Aristides Capital LLC bought a new stake in Palladyne AI in the fourth quarter valued at approximately $99,000. Themes Management Co LLC bought a new stake in Palladyne AI in the fourth quarter valued at approximately $253,000. Finally, Covestor Ltd boosted its holdings in Palladyne AI by 482.2% in the fourth quarter. Covestor Ltd now owns 127,345 shares of the company’s stock valued at $542,000 after acquiring an additional 105,471 shares during the last quarter. Institutional investors and hedge funds own 26.02% of the company’s stock.

Wall Street Analyst Weigh In

PDYN has been the subject of several research analyst reports. Wall Street Zen downgraded Palladyne AI from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Alliance Global Partners reissued a “buy” rating on shares of Palladyne AI in a research note on Tuesday, May 5th. Lake Street Capital initiated coverage on Palladyne AI in a research note on Friday, April 17th. They issued a “buy” rating and a $11.00 price objective for the company. Northland Securities initiated coverage on Palladyne AI in a research note on Wednesday, April 1st. They issued an “outperform” rating and a $10.00 price objective for the company. Finally, Weiss Ratings downgraded Palladyne AI from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $9.33.

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.