Palladyne AI (NASDAQ:PDYN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Palladyne AI (NASDAQ:PDYN) from a sell rating to a hold rating in a research report released on Saturday morning.

A number of other research analysts have also issued reports on PDYN. Weiss Ratings restated a “sell (e+)” rating on shares of Palladyne AI in a research report on Wednesday, October 8th. Jefferies Financial Group assumed coverage on shares of Palladyne AI in a report on Thursday, September 11th. They set a “hold” rating and a $8.00 price target for the company. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.50.

Palladyne AI Stock Up 15.8%

Shares of NASDAQ:PDYN opened at $9.60 on Friday. Palladyne AI has a fifty-two week low of $1.69 and a fifty-two week high of $14.95. The firm has a 50-day simple moving average of $8.03 and a 200 day simple moving average of $7.77. The company has a market cap of $402.72 million, a PE ratio of -5.13 and a beta of 3.75.

Insider Activity at Palladyne AI

In other news, insider Kristi Martindale sold 6,406 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $7.42, for a total value of $47,532.52. Following the completion of the transaction, the insider directly owned 312,236 shares in the company, valued at $2,316,791.12. This trade represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Denis Garagic sold 14,809 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $7.42, for a total transaction of $109,882.78. Following the completion of the transaction, the chief technology officer owned 584,859 shares of the company’s stock, valued at $4,339,653.78. This trade represents a 2.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,963 shares of company stock valued at $200,065 over the last quarter. Insiders own 13.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. bought a new position in shares of Palladyne AI in the first quarter valued at approximately $35,000. Osaic Holdings Inc. boosted its holdings in 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 buying an additional 2,474 shares in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in Palladyne AI during the second quarter worth approximately $51,000. Covestor Ltd boosted its holdings in Palladyne AI by 5,657.0% during the first quarter. Covestor Ltd now owns 14,047 shares of the company’s stock worth $83,000 after buying an additional 13,803 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new stake in Palladyne AI during the second quarter worth approximately $92,000. 26.02% of the stock is currently owned by 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.