Palladyne AI (NASDAQ:PDYN) CFO Sells $13,531.28 in Stock

Palladyne AI Corp. (NASDAQ:PDYN) CFO Trevor Thatcher sold 2,648 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $5.11, for a total value of $13,531.28. Following the completion of the transaction, the chief financial officer owned 164,937 shares in the company, valued at $842,828.07. This represents a 1.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Palladyne AI Stock Performance

Shares of PDYN stock traded down $0.08 during trading on Friday, hitting $5.16. 1,640,006 shares of the company were exchanged, compared to its average volume of 1,285,065. The firm has a market capitalization of $216.46 million, a price-to-earnings ratio of -3.05 and a beta of 3.74. The business’s 50-day simple moving average is $8.02 and its 200 day simple moving average is $8.06. Palladyne AI Corp. has a twelve month low of $2.15 and a twelve month high of $14.95.

Palladyne AI (NASDAQ:PDYN) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.11. Palladyne AI had a negative net margin of 953.45% and a negative return on equity of 133.19%. The firm had revenue of $0.86 million for the quarter, compared to analyst estimates of $1.15 million.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Palladyne AI in a report on Wednesday. Wall Street Zen upgraded Palladyne AI from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Jefferies Financial Group began coverage on Palladyne AI in a research report on Thursday, September 11th. They issued a “hold” rating and a $8.00 target price on the stock. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Palladyne AI currently has an average rating of “Hold” and an average price target of $11.50.

Institutional Investors Weigh In On Palladyne AI

Several institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC increased its position in Palladyne AI by 767.3% during 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 during the last quarter. Geode Capital Management LLC lifted its position in shares of Palladyne AI by 172.9% in the second quarter. Geode Capital Management LLC now owns 592,640 shares of the company’s stock worth $5,133,000 after buying an additional 375,440 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Palladyne AI by 26.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,528,052 shares of the company’s stock worth $13,126,000 after acquiring an additional 315,660 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of Palladyne AI by 96.5% during the 3rd quarter. Raymond James Financial Inc. now owns 412,586 shares of the company’s stock worth $3,544,000 after acquiring an additional 202,571 shares in the last quarter. Finally, Soviero Asset Management LP acquired a new position in shares of Palladyne AI during the 2nd quarter valued at about $1,645,000. Institutional investors and hedge funds own 26.02% of the company’s stock.

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.