Palladyne AI (NASDAQ:PDYN) Insider Stephen Sonne Sells 5,341 Shares of Stock

Palladyne AI Corp. (NASDAQ:PDYN) insider Stephen Sonne sold 5,341 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $6.16, for a total transaction of $32,900.56. Following the sale, the insider owned 340,690 shares of the company’s stock, valued at $2,098,650.40. This trade represents a 1.54% 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.

Palladyne AI Trading Up 0.5%

Palladyne AI stock opened at $6.13 on Friday. The company has a market capitalization of $302.45 million, a price-to-earnings ratio of -9.01 and a beta of 3.65. Palladyne AI Corp. has a 12 month low of $4.14 and a 12 month high of $10.73. The stock’s 50 day moving average is $5.81 and its 200-day moving average is $6.45.

Palladyne AI (NASDAQ:PDYN) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.27) EPS 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 firm had revenue of $5.78 million during the quarter, compared to analyst estimates of $5.80 million. As a group, equities research analysts predict that Palladyne AI Corp. will post -0.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PDYN. Jefferies Financial Group raised Palladyne AI to a “hold” rating in a research report on Wednesday, June 10th. Northland Securities set a $15.00 price objective on shares of Palladyne AI in a research note on Monday, June 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Palladyne AI in a report on Monday, August 3rd. Finally, Alliance Global Partners restated a “buy” rating on shares of Palladyne AI in a research note on Tuesday, May 5th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Palladyne AI presently has an average rating of “Hold” and an average price target of $11.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PDYN. Quarry LP bought a new stake in shares of Palladyne AI during the 3rd quarter valued at about $28,000. Osaic Holdings Inc. increased its position in shares of 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 acquiring an additional 2,474 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Palladyne AI during the 3rd quarter valued at about $61,000. Virtu Financial LLC bought a new position in shares of Palladyne AI in the third quarter valued at approximately $86,000. Finally, Boothbay Fund Management LLC bought a new position in Palladyne AI during the 4th quarter valued at $44,000. Institutional investors own 26.02% of the company’s stock.

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.