Palladyne AI (NASDAQ:PDYN) Earns "Sell (E+)" Rating from Weiss Ratings

Key Points

• Palladyne AI (NASDAQ:PDYN) has received a reaffirmed "sell (e+)" rating from Weiss Ratings, indicating a negative outlook for the company's stock.
• The stock's average rating is "Hold" with a consensus price target of $11.50, despite having a current trading price around $9.36.
• Insider trading activity included significant sales by two company executives, with Kristi Martindale and CTO Denis Garagic selling shares, leading to a 2% decrease in their ownership stakes.

Palladyne AI (NASDAQ:PDYN - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

PDYN has been the topic of a number of other reports. Wall Street Zen lowered shares of Palladyne AI from a "hold" rating to a "sell" rating in a report on Saturday, September 13th. Jefferies Financial Group initiated coverage on shares of Palladyne AI in a research note on Thursday, September 11th. They issued a "hold" rating and a $8.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $11.50.

Palladyne AI Price Performance

PDYN opened at $9.36 on Wednesday. Palladyne AI has a fifty-two week low of $1.69 and a fifty-two week high of $14.95. The firm has a market capitalization of $392.65 million, a price-to-earnings ratio of -5.01 and a beta of 3.75. The company's 50 day moving average price is $7.97 and its two-hundred day moving average price is $7.71.

Insiders Place Their Bets

In other news, insider Kristi Martindale sold 6,406 shares of the company's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $7.42, for a total value of $47,532.52. Following the sale, the insider directly owned 312,236 shares of the company's stock, valued at approximately $2,316,791.12. This represents a 2.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Denis Garagic sold 14,809 shares of the company's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $7.42, for a total transaction of $109,882.78. Following the completion of the sale, the chief technology officer directly owned 584,859 shares in the company, valued at approximately $4,339,653.78. This represents a 2.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,963 shares of company stock worth $200,065. Insiders own 13.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PDYN. Millennium Management LLC acquired a new position in shares of Palladyne AI during the 4th quarter valued at $134,000. Two Sigma Investments LP acquired a new position in shares of Palladyne AI during the 4th quarter valued at $186,000. SBI Securities Co. Ltd. lifted its position in shares of Palladyne AI by 47.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 32,803 shares of the company's stock valued at $193,000 after acquiring an additional 10,599 shares during the period. PNC Financial Services Group Inc. acquired a new position in shares of Palladyne AI during the 1st quarter valued at $35,000. Finally, Covestor Ltd lifted its position in shares of Palladyne AI by 5,657.0% during the 1st quarter. Covestor Ltd now owns 14,047 shares of the company's stock valued at $83,000 after acquiring an additional 13,803 shares during the period. Institutional investors and hedge funds 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.

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