Palladyne AI Corp. (NASDAQ:PDYN) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analysts give Palladyne AI an average recommendation of "Hold" from five brokerages (three hold, two buy) with a 12‑month average target of $9.67 and individual targets ranging from $8 to $11.
• In the latest quarter Palladyne reported EPS of -$0.16 (beating estimates of -$0.18) and revenue of $1.66M (vs. $0.81M expected); the stock trades around $6.84 with a market cap of ~$317.8M and a 52‑week range of $4.14–$13.00.
• Insiders have been net sellers recently—CTO Denis Garagic sold 12,945 shares and another insider sold 6,802, with 27,396 shares (~$206,840) sold in the past 90 days; insiders still own 13.4% of the company while institutions hold about 26.0%.

Palladyne AI Corp. (NASDAQ:PDYN - Get Free Report) has earned an average recommendation of "Hold" from the five brokerages that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $9.6667.

PDYN has been the subject of a number of research reports. Zacks Research upgraded Palladyne AI to a "hold" rating in a research note on Wednesday, April 8th. Lake Street Capital started coverage on shares of Palladyne AI in a research report on Friday. They set a "buy" rating and a $11.00 target price on the stock. Weiss Ratings upgraded shares of Palladyne AI from a "sell (d-)" rating to a "hold (c-)" rating in a report on Thursday, March 5th. Northland Securities began coverage on shares of Palladyne AI in a research report on Wednesday, April 1st. They issued an "outperform" rating and a $10.00 price target for the company. Finally, Jefferies Financial Group increased their price objective on shares of Palladyne AI from $7.00 to $8.00 and gave the company a "hold" rating in a research note on Tuesday, March 10th.

Palladyne AI Stock Up 3.1%

PDYN traded up $0.21 during trading on Friday, reaching $6.84. The company had a trading volume of 574,073 shares, compared to its average volume of 3,908,599. Palladyne AI has a 52 week low of $4.14 and a 52 week high of $13.00. The stock has a market cap of $317.79 million, a P/E ratio of 31.14 and a beta of 3.75. The business has a 50 day simple moving average of $6.81 and a 200-day simple moving average of $6.71.

Palladyne AI (NASDAQ:PDYN - Get Free Report) last posted its quarterly earnings data on Thursday, March 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.02. Palladyne AI had a return on equity of 8.82% and a net margin of 191.37%.The company had revenue of $1.66 million during the quarter, compared to analysts' expectations of $0.81 million.

Insider Activity

In related news, CTO Denis Garagic sold 12,945 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $7.55, for a total transaction of $97,734.75. Following the completion of the sale, the chief technology officer owned 592,284 shares of the company's stock, valued at $4,471,744.20. This represents a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Stephen Sonne sold 6,802 shares of Palladyne AI stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $7.55, for a total transaction of $51,355.10. Following the completion of the transaction, the insider directly owned 206,206 shares in the company, valued at $1,556,855.30. This represents a 3.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 27,396 shares of company stock worth $206,840. Corporate insiders own 13.40% of the company's stock.

Hedge Funds Weigh In On Palladyne AI

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cadent Capital Advisors LLC acquired a new stake in Palladyne AI during the 3rd quarter valued at approximately $1,494,000. Quantbot Technologies LP purchased a new position in shares of Palladyne AI during the third quarter worth $597,000. United Capital Management of KS Inc. acquired a new position in Palladyne AI during the third quarter valued at $441,000. DNB Asset Management AS lifted its position in Palladyne AI by 114.3% during the third quarter. DNB Asset Management AS now owns 78,393 shares of the company's stock valued at $673,000 after purchasing an additional 41,809 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in Palladyne AI in the third quarter valued at $164,000. 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.

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