Palladyne AI (NASDAQ:PDYN) CFO Trevor Thatcher Sells 4,636 Shares

Key Points

• CFO Trevor Thatcher sold 4,636 Palladyne AI shares at an average price of $6.16, totaling $28,557.76. He retains 319,602 shares, with the sale reducing his position by 1.43%.
• Palladyne AI’s stock rose 0.5% to $6.13, but the company reported a quarterly EPS loss of $0.27, missing estimates, while revenue of $5.78 million was slightly below expectations.
• Analyst sentiment is mixed, with three Buy, two Hold, and one Sell rating; the consensus view is Hold, with an average price target of $11.00.

Palladyne AI Corp. (NASDAQ:PDYN - Get Free Report) CFO Trevor Thatcher sold 4,636 shares of the business's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $6.16, for a total value of $28,557.76. Following the transaction, the chief financial officer owned 319,602 shares in the company, valued at approximately $1,968,748.32. This represents a 1.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Palladyne AI Trading Up 0.5%

NASDAQ PDYN traded up $0.03 on Friday, hitting $6.13. The company's stock had a trading volume of 811,264 shares, compared to its average volume of 929,405. Palladyne AI Corp. has a 52-week low of $4.14 and a 52-week high of $10.73. The company's 50-day simple moving average is $5.81 and its 200 day simple moving average is $6.45. The firm has a market cap of $302.45 million, a P/E ratio of -9.01 and a beta of 3.65.

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

Institutional Investors Weigh In On Palladyne AI

Hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. boosted its position in shares of 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 last quarter. Cetera Investment Advisers lifted its stake in Palladyne AI by 25.6% during the 1st quarter. Cetera Investment Advisers now owns 13,769 shares of the company's stock valued at $84,000 after acquiring an additional 2,803 shares during the period. Quarry LP bought a new position in Palladyne AI during the 3rd quarter valued at about $28,000. Bridgeway Capital Management LLC boosted its holdings in shares of Palladyne AI by 9.7% during the 2nd quarter. Bridgeway Capital Management LLC now owns 48,700 shares of the company's stock valued at $422,000 after acquiring an additional 4,300 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Palladyne AI by 136.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,759 shares of the company's stock valued at $93,000 after acquiring an additional 6,213 shares during the last quarter. 26.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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.

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