Palladyne AI Corp. (NASDAQ:PDYN) Given Consensus Rating of “Hold” by Analysts

Palladyne AI Corp. (NASDAQ:PDYN) has been assigned a consensus rating of “Hold” from the six research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $11.00.

Several research firms recently issued reports on PDYN. Northland Securities set a $15.00 price objective on Palladyne AI in a research note on Monday, June 8th. Jefferies Financial Group upgraded shares of Palladyne AI to a “hold” rating in a research report on Wednesday, June 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Palladyne AI in a research report on Monday, August 3rd.

Palladyne AI Price Performance

NASDAQ PDYN opened at $5.68 on Monday. The company’s 50 day simple moving average is $5.67 and its two-hundred day simple moving average is $6.29. Palladyne AI has a 1 year low of $4.14 and a 1 year high of $10.73. The stock has a market capitalization of $280.25 million, a PE ratio of -8.35 and a beta of 3.67.

Palladyne AI (NASDAQ:PDYN) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). The firm had revenue of $5.78 million for the quarter, compared to analysts’ expectations of $5.80 million. Palladyne AI had a negative net margin of 254.75% and a negative return on equity of 53.29%. On average, research analysts anticipate that Palladyne AI will post -0.95 EPS for the current year.

Insider Transactions at Palladyne AI

In related news, CTO Denis Garagic sold 17,255 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $6.16, for a total value of $106,290.80. Following the completion of the transaction, the chief technology officer directly owned 990,798 shares in the company, valued at approximately $6,103,315.68. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Sonne sold 5,341 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $6.16, for a total value of $32,900.56. Following the sale, the insider owned 340,690 shares in the company, valued at $2,098,650.40. The trade was a 1.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 27,232 shares of company stock valued at $167,749. Insiders own 13.40% of the company’s stock.

Institutional Investors Weigh In On Palladyne AI

A number of hedge funds have recently made changes to their positions in PDYN. Themes Management Co LLC raised its position in Palladyne AI by 561.7% in the 1st quarter. Themes Management Co LLC now owns 392,259 shares of the company’s stock worth $2,381,000 after purchasing an additional 332,982 shares during the period. Royal Bank of Canada lifted 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 purchasing an additional 11,565 shares during the last quarter. Covestor Ltd boosted its stake in shares of Palladyne AI by 482.2% during the fourth quarter. Covestor Ltd now owns 127,345 shares of the company’s stock valued at $542,000 after purchasing an additional 105,471 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Palladyne AI by 27.4% in the first quarter. Bank of New York Mellon Corp now owns 75,908 shares of the company’s stock worth $461,000 after buying an additional 16,315 shares during the period. Finally, Arkadios Wealth Advisors bought a new stake in Palladyne AI in the 1st quarter worth $375,000. 26.02% of the stock is currently owned by institutional investors.

About Palladyne AI

Palladyne AI Corp. (NASDAQ: PDYN) develops artificial intelligence software designed to enable robots and autonomous systems to perceive their surroundings, learn from experience, make decisions and perform tasks with limited human intervention. Its technology is intended to support applications across defense, industrial, commercial and other robotic markets.

The company’s offerings include the Palladyne IQ software platform, which is designed to provide autonomous capabilities for unmanned aerial, ground and other robotic systems.