Palladyne AI (NASDAQ:PDYN) CFO Sells $28,004.54 in Stock

Palladyne AI Corp. (NASDAQ:PDYN) CFO Trevor Thatcher sold 4,561 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 transaction of $28,004.54. Following the transaction, the chief financial officer owned 175,697 shares in the company, valued at approximately $1,078,779.58. The trade was a 2.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Trevor Thatcher also recently made the following trade(s):

• On Thursday, March 12th, Trevor Thatcher sold 7,649 shares of Palladyne AI stock. The stock was sold at an average price of $7.55, for a total transaction of $57,749.95.

Palladyne AI Trading Up 4.0%

Shares of NASDAQ:PDYN traded up $0.24 on Thursday, reaching $6.21. 1,023,359 shares of the company’s stock were exchanged, compared to its average volume of 1,328,346. The company has a fifty day moving average of $6.41 and a 200-day moving average of $6.27. Palladyne AI Corp. has a twelve month low of $4.14 and a twelve month high of $13.00. The company has a market capitalization of $288.70 million, a price-to-earnings ratio of -10.18 and a beta of 3.52.

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). Palladyne AI had a negative return on equity of 49.17% and a negative net margin of 358.04%.The business had revenue of $3.54 million for the quarter, compared to analyst estimates of $4.93 million. As a group, equities research analysts forecast that Palladyne AI Corp. will post -0.87 EPS for the current fiscal year.

Institutional Trading of Palladyne AI

A number of hedge funds have recently added to or reduced their stakes in the stock. Arkadios Wealth Advisors acquired a new stake in Palladyne AI in the first quarter valued at approximately $375,000. Royal Bank of Canada boosted its position in Palladyne AI by 14.6% in the first quarter. Royal Bank of Canada now owns 90,825 shares of the company’s stock valued at $551,000 after buying an additional 11,565 shares in the last quarter. Themes Management Co LLC boosted its position in Palladyne AI by 561.7% in the first quarter. Themes Management Co LLC now owns 392,259 shares of the company’s stock valued at $2,381,000 after buying an additional 332,982 shares in the last quarter. Sei Investments Co. acquired a new stake in Palladyne AI in the first quarter valued at approximately $89,000. Finally, Cetera Investment Advisers boosted its position in Palladyne AI by 25.6% in the first quarter. Cetera Investment Advisers now owns 13,769 shares of the company’s stock valued at $84,000 after buying an additional 2,803 shares in the last quarter. Institutional investors and hedge funds own 26.02% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PDYN. 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 target price on the stock. Wall Street Zen lowered shares of Palladyne AI from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. 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 target on the stock. Jefferies Financial Group reiterated a “hold” rating and set a $7.00 price target on shares of Palladyne AI in a research report on Wednesday, May 6th. Finally, Weiss Ratings lowered shares of Palladyne AI from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock 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.