Palladyne AI (NASDAQ:PDYN) CFO Trevor Thatcher Sells 7,649 Shares

Palladyne AI Corp. (NASDAQ:PDYN) CFO Trevor Thatcher sold 7,649 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $7.55, for a total value of $57,749.95. Following the completion of the transaction, the chief financial officer owned 183,288 shares in the company, valued at $1,383,824.40. This trade represents a 4.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Palladyne AI Stock Down 2.0%

Shares of PDYN traded down $0.14 during midday trading on Friday, reaching $6.92. 975,645 shares of the stock were exchanged, compared to its average volume of 4,884,639. The company has a market cap of $291.00 million, a price-to-earnings ratio of 31.41 and a beta of 3.78. Palladyne AI Corp. has a 12-month low of $4.14 and a 12-month high of $13.00. The firm has a 50 day simple moving average of $6.88 and a 200-day simple moving average of $6.93.

Palladyne AI (NASDAQ:PDYN) last announced its quarterly earnings results on Thursday, March 5th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.02. The business had revenue of $1.66 million during the quarter, compared to analysts’ expectations of $0.81 million. Palladyne AI had a return on equity of 8.82% and a net margin of 191.37%.

Analyst Ratings Changes

A number of research analysts have recently weighed in 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. Jefferies Financial Group upped their price objective on shares of Palladyne AI from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Tuesday. Finally, Wall Street Zen lowered Palladyne AI from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.00.

Hedge Funds Weigh In On Palladyne AI

A number of institutional investors have recently modified their holdings of PDYN. Osaic Holdings Inc. boosted its holdings in 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 acquiring an additional 2,474 shares during the period. J.W. Cole Advisors Inc. increased its stake in shares of Palladyne AI by 18.6% in the second quarter. J.W. Cole Advisors Inc. now owns 17,200 shares of the company’s stock worth $149,000 after purchasing an additional 2,700 shares during the period. SBI Securities Co. Ltd. lifted its position in shares of Palladyne AI by 7.3% during the 3rd quarter. SBI Securities Co. Ltd. now owns 42,027 shares of the company’s stock worth $361,000 after purchasing an additional 2,855 shares during the last quarter. Quarry LP bought a new stake in Palladyne AI during the 3rd quarter valued at approximately $28,000. Finally, Bridgeway Capital Management LLC boosted its stake in 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 purchasing an additional 4,300 shares during the period. Institutional investors own 26.02% of the company’s stock.

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.