Palladyne AI (NASDAQ:PDYN) CTO Denis Garagic Sells 12,945 Shares

Palladyne AI Corp. (NASDAQ:PDYN) CTO Denis Garagic sold 12,945 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $7.55, for a total value of $97,734.75. Following the completion of the transaction, the chief technology officer owned 592,284 shares of the company’s stock, valued at $4,471,744.20. This trade represents a 2.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Palladyne AI Trading Down 1.2%

Shares of NASDAQ:PDYN traded down $0.09 during mid-day trading on Friday, reaching $6.97. The company had a trading volume of 778,871 shares, compared to its average volume of 4,880,765. The firm has a market cap of $293.19 million, a price-to-earnings ratio of 31.62 and a beta of 3.78. Palladyne AI Corp. has a one year low of $4.14 and a one year high of $13.00. The company’s 50-day moving average price is $6.88 and its 200-day moving average price is $6.93.

Palladyne AI (NASDAQ:PDYN) last posted its earnings results on Thursday, March 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.02. The firm had revenue of $1.66 million for the quarter, compared to the consensus estimate of $0.81 million. Palladyne AI had a return on equity of 8.82% and a net margin of 191.37%.

Institutional Trading of Palladyne AI

A number of institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP bought a new stake in shares of Palladyne AI in the third quarter worth approximately $28,000. Osaic Holdings Inc. lifted its stake in shares of Palladyne AI by 94.3% during the 2nd quarter. Osaic Holdings Inc. now owns 5,098 shares of the company’s stock valued at $44,000 after buying an additional 2,474 shares in the last quarter. Boothbay Fund Management LLC bought a new position in shares of Palladyne AI in the fourth quarter worth about $44,000. Police & Firemen s Retirement System of New Jersey bought a new position in Palladyne AI in the 2nd quarter worth approximately $51,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Palladyne AI by 103.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 12,484 shares of the company’s stock worth $53,000 after acquiring an additional 6,343 shares during the last quarter. Institutional investors own 26.02% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PDYN shares. Wall Street Zen lowered Palladyne AI from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Weiss Ratings upgraded shares of Palladyne AI from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, March 5th. Finally, Jefferies Financial Group raised their target price on Palladyne AI from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $8.00.

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.