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

Shares of Palladyne AI Corp. (NASDAQ:PDYN) have earned a consensus rating of “Hold” from the six ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $11.00.

PDYN has been the subject of a number of recent analyst reports. Jefferies Financial Group raised shares of Palladyne AI to a “hold” rating in a research note on Wednesday, June 10th. Zacks Research raised shares of Palladyne AI to a “hold” rating in a research note on Wednesday, April 8th. Alliance Global Partners reissued a “buy” rating on shares of Palladyne AI in a research note on Tuesday, May 5th. Weiss Ratings lowered shares of Palladyne AI from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen downgraded Palladyne AI from a “hold” rating to a “sell” rating in a report on Saturday, March 7th.

Insider Buying and Selling at Palladyne AI

In other Palladyne AI news, insider Stephen Sonne sold 5,245 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $6.14, for a total transaction of $32,204.30. Following the transaction, the insider owned 197,490 shares of the company’s stock, valued at approximately $1,212,588.60. This trade represents a 2.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Trevor Thatcher sold 4,561 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $6.14, for a total transaction of $28,004.54. Following the transaction, the chief financial officer directly owned 175,697 shares in the company, valued at $1,078,779.58. This trade represents a 2.53% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 26,982 shares of company stock valued at $165,669. Company insiders own 13.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PDYN. Osaic Holdings Inc. grew its stake in Palladyne AI by 94.3% in the second quarter. Osaic Holdings Inc. now owns 5,098 shares of the company’s stock valued at $44,000 after purchasing an additional 2,474 shares during the last quarter. Cetera Investment Advisers grew its stake in Palladyne AI by 25.6% in the first quarter. Cetera Investment Advisers now owns 13,769 shares of the company’s stock valued at $84,000 after purchasing an additional 2,803 shares during the last quarter. Quarry LP purchased a new position in Palladyne AI in the third quarter valued at about $28,000. Bridgeway Capital Management LLC grew its stake in Palladyne AI by 9.7% in the second quarter. Bridgeway Capital Management LLC now owns 48,700 shares of the company’s stock valued at $422,000 after purchasing an additional 4,300 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Palladyne AI by 136.7% in the second quarter. BNP Paribas Financial Markets now owns 10,759 shares of the company’s stock valued at $93,000 after purchasing an additional 6,213 shares during the last quarter. Hedge funds and other institutional investors own 26.02% of the company’s stock.

Palladyne AI Trading Up 4.6%

Shares of PDYN opened at $6.08 on Wednesday. The firm has a market capitalization of $282.66 million, a P/E ratio of -9.97 and a beta of 3.59. Palladyne AI has a 12-month low of $4.14 and a 12-month high of $13.00. The firm has a fifty day moving average price of $6.66 and a 200-day moving average price of $6.45.

Palladyne AI (NASDAQ:PDYN) last issued its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). The company had revenue of $3.54 million for the quarter, compared to analysts’ expectations of $4.93 million. Palladyne AI had a negative net margin of 358.04% and a negative return on equity of 49.17%. Analysts predict that Palladyne AI will post -0.91 earnings per share for the current year.

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.