Palladyne AI Corp. (NASDAQ:PDYN) Receives Average Rating of “Hold” from Analysts

Palladyne AI Corp. (NASDAQ:PDYN) has been given an average recommendation of “Hold” by the six brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $11.00.

A number of equities research analysts recently weighed in on PDYN shares. Jefferies Financial Group raised Palladyne AI to a “hold” rating in a report on Wednesday, June 10th. 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 target price on Palladyne AI in a research note on Monday, June 8th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Palladyne AI in a report on Tuesday, May 5th.

Institutional Trading of Palladyne AI

A number of institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. lifted its stake in shares of Palladyne AI by 94.3% in the 2nd quarter. Osaic Holdings Inc. now owns 5,098 shares of the company’s stock valued at $44,000 after purchasing an additional 2,474 shares during the period. Cetera Investment Advisers grew its stake in shares of Palladyne AI by 25.6% during the first quarter. Cetera Investment Advisers now owns 13,769 shares of the company’s stock worth $84,000 after purchasing an additional 2,803 shares during the period. Quarry LP acquired a new stake in shares of Palladyne AI during the third quarter worth $28,000. Bridgeway Capital Management LLC increased its holdings in Palladyne AI by 9.7% in the second quarter. Bridgeway Capital Management LLC now owns 48,700 shares of the company’s stock valued at $422,000 after purchasing an additional 4,300 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Palladyne AI by 136.7% in the second quarter. BNP Paribas Financial Markets now owns 10,759 shares of the company’s stock valued at $93,000 after purchasing an additional 6,213 shares during the last quarter. Institutional investors and hedge funds own 26.02% of the company’s stock.

Palladyne AI Trading Down 0.8%

Shares of Palladyne AI stock opened at $6.23 on Thursday. The company’s fifty day simple moving average is $5.83 and its 200-day simple moving average is $6.45. The company has a market cap of $307.39 million, a price-to-earnings ratio of -9.16 and a beta of 3.65. Palladyne AI has a 1 year low of $4.14 and a 1 year high of $10.73.

Palladyne AI (NASDAQ:PDYN) last announced 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 business had revenue of $5.78 million during the quarter, compared to the consensus estimate of $5.80 million. Palladyne AI had a negative net margin of 254.75% and a negative return on equity of 53.29%. As a group, research analysts forecast that Palladyne AI will post -0.95 earnings per share for the current fiscal year.

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.