Palladyne AI (NASDAQ:PDYN) CTO Sells $106,290.80 in Stock

Palladyne AI Corp. (NASDAQ:PDYN) CTO Denis Garagic sold 17,255 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $6.16, for a total value of $106,290.80. Following the transaction, the chief technology officer directly owned 990,798 shares in the company, valued at approximately $6,103,315.68. This represents a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Palladyne AI Stock Performance

Shares of NASDAQ PDYN opened at $6.13 on Monday. The stock has a market capitalization of $302.45 million, a PE ratio of -9.01 and a beta of 3.65. The stock’s fifty day simple moving average is $5.81 and its two-hundred day simple moving average is $6.45. Palladyne AI Corp. has a 12-month low of $4.14 and a 12-month high of $10.73.

Palladyne AI (NASDAQ:PDYN) last released its earnings results 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 return on equity of 53.29% and a negative net margin of 254.75%.The company had revenue of $5.78 million during the quarter, compared to analyst estimates of $5.80 million. On average, equities analysts predict that Palladyne AI Corp. will post -0.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PDYN has been the subject of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Palladyne AI in a report on Monday, August 3rd. Jefferies Financial Group upgraded Palladyne AI to a “hold” rating in a report on Wednesday, June 10th. Alliance Global Partners reissued a “buy” rating on shares of Palladyne AI in a research note on Tuesday, May 5th. Finally, Northland Securities set a $15.00 price target on Palladyne AI in a research note on Monday, June 8th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Palladyne AI presently has a consensus rating of “Hold” and a consensus price target of $11.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PDYN. Quarry LP purchased a new stake in Palladyne AI in the third quarter valued at $28,000. Osaic Holdings Inc. lifted its holdings 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 last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Palladyne AI in the 3rd quarter valued at about $61,000. Virtu Financial LLC acquired a new stake in shares of Palladyne AI in the 3rd quarter valued at about $86,000. Finally, Boothbay Fund Management LLC purchased a new position in Palladyne AI during the 4th quarter worth approximately $44,000. 26.02% of the stock is owned by hedge funds and other institutional investors.

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.