Themes Management Co LLC Has $2.38 Million Stake in Palladyne AI Corp. $PDYN

Themes Management Co LLC lifted its stake in Palladyne AI Corp. (NASDAQ:PDYN) by 561.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 392,259 shares of the company’s stock after acquiring an additional 332,982 shares during the period. Palladyne AI accounts for about 1.5% of Themes Management Co LLC’s investment portfolio, making the stock its 12th largest position. Themes Management Co LLC owned approximately 0.84% of Palladyne AI worth $2,381,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PDYN. Osaic Holdings Inc. boosted its position in Palladyne AI by 94.3% during 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 during the period. Cetera Investment Advisers raised its position in shares of 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 purchasing an additional 2,803 shares during the period. Quarry LP bought a new position in shares of Palladyne AI in the third quarter valued at approximately $28,000. Bridgeway Capital Management LLC lifted its stake in shares of Palladyne AI by 9.7% in the second quarter. Bridgeway Capital Management LLC now owns 48,700 shares of the company’s stock worth $422,000 after buying an additional 4,300 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Palladyne AI by 136.7% in the second quarter. BNP Paribas Financial Markets now owns 10,759 shares of the company’s stock worth $93,000 after buying an additional 6,213 shares during the last quarter. 26.02% of the stock is currently owned by institutional investors and hedge funds.

Palladyne AI Trading Down 5.5%

PDYN opened at $4.94 on Friday. Palladyne AI Corp. has a 1-year low of $4.14 and a 1-year high of $10.73. The stock has a market capitalization of $229.66 million, a price-to-earnings ratio of -8.10 and a beta of 3.63. The business has a 50 day moving average of $6.29 and a 200-day moving average of $6.54.

Palladyne AI (NASDAQ:PDYN) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The company had revenue of $3.54 million during 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 -0.91 EPS for the current year.

Insider Buying and Selling at Palladyne AI

In related news, CTO Denis Garagic sold 17,176 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $6.14, for a total value of $105,460.64. Following the completion of the sale, the chief technology officer owned 559,959 shares in the company, valued at approximately $3,438,148.26. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Sonne sold 5,245 shares of Palladyne AI stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $6.14, for a total value of $32,204.30. Following the sale, the insider directly owned 197,490 shares in the company, valued at approximately $1,212,588.60. This trade represents a 2.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 26,982 shares of company stock valued at $165,669 in the last ninety days. Company insiders own 13.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Jefferies Financial Group raised shares of Palladyne AI to a “hold” rating in a report on Wednesday, June 10th. Alliance Global Partners reiterated a “buy” rating on shares of Palladyne AI in a report on Tuesday, May 5th. 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. Lake Street Capital assumed coverage on shares of Palladyne AI in a report on Friday, April 17th. They set a “buy” rating and a $11.00 price target for the company. Finally, Northland Securities set a $15.00 price target on Palladyne AI in a research report on Monday, June 8th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.00.

About Palladyne AI

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.