Palladyne AI Corp. (NASDAQ:PDYN) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Palladyne AI has a consensus “Hold” rating from six analysts: three buy, two hold and one sell. The average 12-month price target is $11.00.
• PDYN opened at $5.12, below its 50-day and 200-day moving averages, and reported quarterly EPS of -$0.27, missing estimates by $0.04; revenue was $5.78 million, roughly in line with expectations.
• Company insiders sold 27,232 shares worth approximately $167,749 over the past 90 days, while institutional investors own 26.02% of the stock.

Shares of Palladyne AI Corp. (NASDAQ:PDYN - Get Free Report) have been given a consensus recommendation of "Hold" by the six ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $11.00.

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Palladyne AI in a research note on Monday, August 3rd.

Palladyne AI Price Performance

PDYN stock opened at $5.12 on Friday. The business has a 50 day simple moving average of $5.74 and a 200-day simple moving average of $6.08. The firm has a market capitalization of $252.62 million, a PE ratio of -7.53 and a beta of 3.66. Palladyne AI has a 1 year low of $4.14 and a 1 year high of $10.73.

Palladyne AI (NASDAQ:PDYN - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.04). The company had revenue of $5.78 million for the quarter, compared to analysts' expectations of $5.80 million. Palladyne AI had a negative return on equity of 53.29% and a negative net margin of 254.75%. On average, equities research analysts expect that Palladyne AI will post -0.95 EPS for the current year.

Insider Buying and Selling

In related news, CTO Denis Garagic sold 17,255 shares of the firm's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $6.16, for a total transaction of $106,290.80. Following the completion of the sale, the chief technology officer directly owned 990,798 shares in the company, valued at approximately $6,103,315.68. This trade represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Trevor Thatcher sold 4,636 shares of Palladyne AI stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $6.16, for a total transaction of $28,557.76. Following the transaction, the chief financial officer directly owned 319,602 shares in the company, valued at $1,968,748.32. This trade represents a 1.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 27,232 shares of company stock worth $167,749. Insiders own 13.40% of the company's stock.

Institutional Trading of Palladyne AI

Several institutional investors have recently made changes to their positions in PDYN. Themes Management Co LLC increased its stake in Palladyne AI by 561.7% during the first quarter. Themes Management Co LLC now owns 392,259 shares of the company's stock worth $2,381,000 after acquiring an additional 332,982 shares during the last quarter. Arkadios Wealth Advisors acquired a new position in shares of Palladyne AI in the 1st quarter valued at $375,000. Symphony Financial Ltd. Co. acquired a new position in shares of Palladyne AI in the 2nd quarter valued at $184,000. Independent Financial Group LLC purchased a new position in shares of Palladyne AI during the 1st quarter worth $174,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Palladyne AI during the 2nd quarter worth $167,000. Hedge funds and other institutional investors own 26.02% of the company's stock.

Palladyne AI Company Profile

Palladyne AI Corp. develops artificial intelligence software designed to enable robots and autonomous machines to operate in complex, unstructured environments. Its technology is intended to help robotic systems perceive their surroundings, learn from experience, make decisions and perform physical tasks with reduced human intervention.

The company's software offerings include Palladyne IQ, an artificial intelligence platform for robotic perception, learning and autonomy, and Palladyne Pilot, which is designed to provide autonomous control for robotic systems.

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