Palladyne AI Corp. (PDYN) – What Are Analysts Saying About This Stock?

Palladyne AI Corp. (NASDAQ:PDYN) has received a consensus recommendation of “Hold” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $11.00.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Palladyne AI in a research report on Friday.

Insider Buying and Selling at Palladyne AI

In other Palladyne AI news, insider Stephen Sonne sold 5,341 shares of the 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 completion of the transaction, the insider directly owned 340,690 shares of the company’s stock, valued at approximately $2,098,650.40. This trade represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Denis Garagic sold 17,255 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $6.16, for a total transaction of $106,290.80. Following the completion of the transaction, the chief technology officer directly owned 990,798 shares of the company’s stock, valued at approximately $6,103,315.68. This trade represents a 1.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 27,232 shares of company stock valued at $167,749. 13.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palladyne AI

Institutional investors and hedge funds have recently modified their holdings of the company. Themes Management Co LLC increased its stake in Palladyne AI by 561.7% in the 1st quarter. Themes Management Co LLC now owns 392,259 shares of the company’s stock valued at $2,381,000 after purchasing an additional 332,982 shares in the last quarter. Royal Bank of Canada raised its holdings in Palladyne AI by 14.6% during the first quarter. Royal Bank of Canada now owns 90,825 shares of the company’s stock worth $551,000 after purchasing an additional 11,565 shares during the last quarter. CenterBook Partners LP purchased a new stake in Palladyne AI during the third quarter worth $534,000. Covestor Ltd boosted its position in Palladyne AI by 9.9% during the third quarter. Covestor Ltd now owns 103,067 shares of the company’s stock worth $532,000 after purchasing an additional 9,251 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in 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 valued at $461,000 after purchasing an additional 16,315 shares during the last quarter. Institutional investors and hedge funds own 26.02% of the company’s stock.

Palladyne AI Trading Up 0.6%

Shares of PDYN stock opened at $3.34 on Tuesday. The stock has a 50 day simple moving average of $5.01 and a 200-day simple moving average of $6.11. The company has a market cap of $164.80 million, a price-to-earnings ratio of -4.91 and a beta of 3.66. Palladyne AI has a 12-month low of $3.21 and a 12-month high of $10.00.

Palladyne AI (NASDAQ:PDYN) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.27) earnings per share 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 business had revenue of $5.78 million during the quarter, compared to analysts’ expectations of $5.80 million. On average, equities analysts forecast that Palladyne AI will post -0.95 earnings per share for the current fiscal year.

Palladyne AI Company Profile

Palladyne AI Corp. develops artificial intelligence software designed to help robots perceive their surroundings, learn from experience and perform complex physical tasks with greater autonomy. Its technology is intended to enable robots to operate in dynamic, unstructured environments while reducing the need for detailed task-by-task programming.

The company’s software platform, Palladyne IQ, uses machine learning, computer vision and related AI capabilities to support robotic perception, decision-making and control.