Trevor Thatcher Sells 7,649 Shares of Palladyne AI (NASDAQ:PDYN) Stock

Palladyne AI Corp. (NASDAQ:PDYN) CFO Trevor Thatcher sold 7,649 shares of Palladyne AI stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $7.55, for a total transaction of $57,749.95. Following the completion of the sale, the chief financial officer owned 183,288 shares in the company, valued at $1,383,824.40. The trade was a 4.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Palladyne AI Price Performance

NASDAQ PDYN traded down $0.37 on Thursday, hitting $7.06. 1,927,029 shares of the stock were exchanged, compared to its average volume of 3,864,746. Palladyne AI Corp. has a 52 week low of $4.14 and a 52 week high of $13.00. The company has a market capitalization of $296.80 million, a PE ratio of 32.09 and a beta of 3.78. The business’s fifty day moving average is $6.88 and its 200 day moving average is $6.93.

Palladyne AI (NASDAQ:PDYN) last released its quarterly earnings results on Thursday, March 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.02. The business had revenue of $1.66 million during the quarter, compared to the consensus estimate of $0.81 million. Palladyne AI had a return on equity of 8.82% and a net margin of 191.37%.

Wall Street Analyst Weigh In

PDYN has been the subject of several recent research reports. Wall Street Zen cut shares of Palladyne AI from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Jefferies Financial Group boosted their target price on shares of Palladyne AI from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, Weiss Ratings raised Palladyne AI from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, March 5th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $8.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd increased its position in shares of Palladyne AI by 103.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 12,484 shares of the company’s stock valued at $53,000 after buying an additional 6,343 shares during the period. Aristides Capital LLC bought a new position in shares of Palladyne AI during the 4th quarter valued at about $99,000. NewEdge Advisors LLC raised its stake in shares of Palladyne AI by 456.7% during the fourth quarter. NewEdge Advisors LLC now owns 21,883 shares of the company’s stock worth $93,000 after acquiring an additional 17,952 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Palladyne AI in the fourth quarter worth $122,000. Finally, Engineers Gate Manager LP bought a new position in Palladyne AI during the 4th quarter valued at approximately $234,000. 26.02% of the stock is currently owned by hedge funds and other institutional investors.

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.