Palladyne AI Corp. (NASDAQ:PDYN) Receives Average Rating of “Hold” from Analysts

Palladyne AI Corp. (NASDAQ:PDYN) has received a consensus rating of “Hold” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research 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 12 month target price among brokerages that have updated their coverage on the stock in the last year is $9.3333.

PDYN has been the topic of several recent research reports. Jefferies Financial Group restated a “hold” rating and issued a $7.00 price target on shares of Palladyne AI in a research report on Wednesday, May 6th. Northland Securities initiated coverage on Palladyne AI in a research report on Wednesday, April 1st. They issued an “outperform” rating and a $10.00 price target on the stock. Weiss Ratings lowered Palladyne AI from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Alliance Global Partners restated a “buy” rating on shares of Palladyne AI in a research report on Tuesday, May 5th. Finally, Lake Street Capital initiated coverage on Palladyne AI in a research report on Friday, April 17th. They issued a “buy” rating and a $11.00 price target on the stock.

Insiders Place Their Bets

In related news, CFO Trevor Thatcher sold 7,649 shares of Palladyne AI stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $7.55, for a total value of $57,749.95. Following the sale, the chief financial officer owned 183,288 shares of the company’s stock, valued at approximately $1,383,824.40. The trade was a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Sonne sold 6,802 shares of Palladyne AI stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $7.55, for a total value of $51,355.10. Following the completion of the sale, the insider directly owned 206,206 shares in the company, valued at approximately $1,556,855.30. This represents a 3.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 54,378 shares of company stock worth $372,509. 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 bought and sold shares of the business. United Capital Management of KS Inc. bought a new position in Palladyne AI during the third quarter worth about $441,000. Quantbot Technologies LP bought a new stake in shares of Palladyne AI during the third quarter worth approximately $597,000. International Assets Investment Management LLC boosted its holdings in shares of Palladyne AI by 226.1% during the first quarter. International Assets Investment Management LLC now owns 11,466 shares of the company’s stock worth $71,000 after acquiring an additional 7,950 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Palladyne AI by 103.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 12,484 shares of the company’s stock worth $53,000 after acquiring an additional 6,343 shares during the period. Finally, Themes Management Co LLC bought a new stake in shares of Palladyne AI during the fourth quarter worth approximately $253,000. Institutional investors own 26.02% of the company’s stock.

Palladyne AI Stock Performance

Shares of PDYN opened at $6.87 on Friday. The firm has a market capitalization of $319.39 million, a price-to-earnings ratio of -11.26 and a beta of 3.59. The business’s fifty day moving average price is $6.63 and its two-hundred day moving average price is $6.33. Palladyne AI has a 52 week low of $4.14 and a 52 week high of $13.00.

Palladyne AI (NASDAQ:PDYN) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). The firm had revenue of $3.54 million during the quarter, compared to the consensus estimate of $4.93 million. Palladyne AI had a negative net margin of 358.04% and a negative return on equity of 49.17%. As a group, research analysts forecast that Palladyne AI will post -0.87 EPS for the current year.

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.