Denis Garagic Sells 17,255 Shares of Palladyne AI (NASDAQ:PDYN) Stock

Key Points

• CTO Denis Garagic sold 17,255 Palladyne AI shares at an average price of $6.16, generating approximately $106,291; his remaining stake was 990,798 shares.
• Palladyne AI shares traded around $6.13, within a 12-month range of $4.14 to $10.73. The company recently reported a quarterly loss of $0.27 per share, missing estimates, while revenue of $5.78 million was roughly in line with expectations.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and an average price target of $11.00; institutional investors own approximately 26.02% of the company.

Palladyne AI Corp. (NASDAQ:PDYN - Get Free Report) CTO Denis Garagic sold 17,255 shares of the firm'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 transaction of $106,290.80. Following the completion of the transaction, the chief technology officer owned 990,798 shares in the company, valued at $6,103,315.68. The trade was a 1.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Palladyne AI Stock Performance

Shares of NASDAQ:PDYN traded up $0.03 during midday trading on Friday, hitting $6.13. 811,264 shares of the company's stock traded hands, compared to its average volume of 929,405. The firm's fifty day moving average price is $5.81 and its two-hundred day moving average price is $6.45. Palladyne AI Corp. has a twelve month low of $4.14 and a twelve month high of $10.73.

Palladyne AI (NASDAQ:PDYN - Get Free Report) last issued 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 analyst estimates of $5.80 million. Palladyne AI had a negative return on equity of 53.29% and a negative net margin of 254.75%. As a group, equities research analysts expect that Palladyne AI Corp. will post -0.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on PDYN shares. Northland Securities set a $15.00 target price on Palladyne AI in a research report on Monday, June 8th. Alliance Global Partners reaffirmed a "buy" rating on shares of Palladyne AI in a report on Tuesday, May 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Palladyne AI in a research report on Monday, August 3rd. Finally, Jefferies Financial Group upgraded Palladyne AI to a "hold" rating in a research note on Wednesday, June 10th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Palladyne AI currently has a consensus rating of "Hold" and an average target price of $11.00.

Hedge Funds Weigh In On Palladyne AI

Large investors have recently made changes to their positions in the business. Quarry LP bought a new stake in Palladyne AI during the third quarter worth approximately $28,000. Osaic Holdings Inc. raised its position in Palladyne AI by 94.3% during the second quarter. Osaic Holdings Inc. now owns 5,098 shares of the company's stock valued at $44,000 after buying an additional 2,474 shares during the period. Boothbay Fund Management LLC acquired a new stake in Palladyne AI during the 4th quarter worth about $44,000. Caitong International Asset Management Co. Ltd grew its stake in Palladyne AI by 103.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 12,484 shares of the company's stock valued at $53,000 after acquiring an additional 6,343 shares in the last quarter. Finally, Atom Investors LP purchased a new position in Palladyne AI during the 4th quarter valued at about $56,000. Institutional investors own 26.02% of the company's stock.

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.

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