Palladyne AI (NASDAQ:PDYN) Insider Sells $32,900.56 in Stock

Palladyne AI Corp. (NASDAQ:PDYN) insider Stephen Sonne sold 5,341 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $6.16, for a total value of $32,900.56. Following the completion of the sale, the insider directly owned 340,690 shares of the company’s stock, valued at $2,098,650.40. The trade was a 1.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Palladyne AI Stock Performance

Shares of PDYN stock traded up $0.03 during trading hours on Friday, reaching $6.13. The company had a trading volume of 811,264 shares, compared to its average volume of 929,405. Palladyne AI Corp. has a twelve month low of $4.14 and a twelve month high of $10.73. The stock’s fifty day simple moving average is $5.81 and its 200 day simple moving average is $6.45. The company has a market capitalization of $302.45 million, a P/E ratio of -9.01 and a beta of 3.65.

Palladyne AI (NASDAQ:PDYN) last posted its quarterly earnings data 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 firm had revenue of $5.78 million for the quarter, compared to analysts’ expectations of $5.80 million. As a group, equities analysts expect that Palladyne AI Corp. will post -0.95 earnings per share for the current year.

Analyst Ratings Changes

PDYN has been the topic of a number of recent analyst reports. Jefferies Financial Group upgraded shares of Palladyne AI to a “hold” rating in a research note on Wednesday, June 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Palladyne AI in a research note on Monday, August 3rd. Northland Securities set a $15.00 target price on Palladyne AI in a research note on Monday, June 8th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Palladyne AI in a research report on Tuesday, May 5th. Three 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. According to MarketBeat.com, Palladyne AI currently has an average rating of “Hold” and an average price target of $11.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of Palladyne AI during the third quarter valued at approximately $28,000. Osaic Holdings Inc. lifted its position in shares of Palladyne AI by 94.3% in the second quarter. Osaic Holdings Inc. now owns 5,098 shares of the company’s stock worth $44,000 after purchasing an additional 2,474 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Palladyne AI during the 3rd quarter valued at $61,000. Virtu Financial LLC purchased a new position in Palladyne AI in the third quarter valued at about $86,000. Finally, Boothbay Fund Management LLC bought a new position in Palladyne AI during the fourth quarter valued at approximately $44,000. 26.02% of the stock is owned by hedge funds and other institutional investors.

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.