Palladyne AI (NASDAQ:PDYN) CFO Sells $28,557.76 in Stock

Palladyne AI Corp. (NASDAQ:PDYN) CFO Trevor Thatcher sold 4,636 shares of Palladyne AI stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $6.16, for a total value of $28,557.76. Following the completion of the transaction, the chief financial officer owned 319,602 shares in the company, valued at approximately $1,968,748.32. This represents a 1.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Palladyne AI Stock Performance

NASDAQ PDYN opened at $6.13 on Monday. The firm has a market cap of $302.45 million, a PE ratio of -9.01 and a beta of 3.65. Palladyne AI Corp. has a 1-year low of $4.14 and a 1-year high of $10.73. The stock has a 50-day moving average of $5.81 and a 200-day moving average of $6.45.

Palladyne AI (NASDAQ:PDYN) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The company had revenue of $5.78 million for the quarter, compared to the consensus estimate of $5.80 million. Palladyne AI had a negative return on equity of 53.29% and a negative net margin of 254.75%. As a group, equities research analysts forecast that Palladyne AI Corp. will post -0.95 earnings per share for the current fiscal year.

Institutional Trading of Palladyne AI

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Palladyne AI by 26.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,528,052 shares of the company’s stock worth $13,126,000 after purchasing an additional 315,660 shares during the period. Geode Capital Management LLC increased its position in shares of Palladyne AI by 12.5% during the fourth quarter. Geode Capital Management LLC now owns 721,997 shares of the company’s stock valued at $3,077,000 after buying an additional 80,075 shares during the period. State Street Corp increased its position in shares of Palladyne AI by 24.4% during the fourth quarter. State Street Corp now owns 588,570 shares of the company’s stock valued at $2,507,000 after buying an additional 115,409 shares during the period. Millennium Management LLC raised its stake in Palladyne AI by 767.3% in the third quarter. Millennium Management LLC now owns 565,693 shares of the company’s stock worth $4,859,000 after buying an additional 500,472 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in Palladyne AI by 96.5% in the third quarter. Raymond James Financial Inc. now owns 412,586 shares of the company’s stock worth $3,544,000 after buying an additional 202,571 shares in the last quarter. Institutional investors own 26.02% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PDYN. Weiss Ratings restated a “sell (d-)” rating on shares of Palladyne AI in a report on Monday, August 3rd. Northland Securities set a $15.00 price target on shares of Palladyne AI in a research report on Monday, June 8th. Jefferies Financial Group raised shares of Palladyne AI to a “hold” rating in a report on Wednesday, June 10th. Finally, Alliance Global Partners restated a “buy” rating on shares of Palladyne AI in a research report on Tuesday, May 5th. Three 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 currently has a consensus rating of “Hold” and a consensus target price of $11.00.

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.