Palladyne AI (NASDAQ:PDYN) Insider Stephen Sonne Sells 5,245 Shares

Palladyne AI Corp. (NASDAQ:PDYN) insider Stephen Sonne sold 5,245 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $6.14, for a total value of $32,204.30. Following the completion of the transaction, the insider directly owned 197,490 shares in the company, valued at $1,212,588.60. This represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Stephen Sonne also recently made the following trade(s):

• On Thursday, March 12th, Stephen Sonne sold 6,802 shares of Palladyne AI stock. The stock was sold at an average price of $7.55, for a total value of $51,355.10.

Palladyne AI Stock Performance

Shares of PDYN opened at $6.21 on Friday. The firm has a market cap of $288.70 million, a PE ratio of -10.18 and a beta of 3.52. Palladyne AI Corp. has a 52-week low of $4.14 and a 52-week high of $13.00. The business’s 50 day moving average price is $6.41 and its two-hundred day moving average price is $6.27.

Palladyne AI (NASDAQ:PDYN) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The company 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%. Research analysts predict that Palladyne AI Corp. will post -0.87 EPS for the current fiscal year.

Analyst Ratings Changes

PDYN has been the topic of a number of research analyst reports. Jefferies Financial Group reissued a “hold” rating and set a $7.00 price objective on shares of Palladyne AI in a research report on Wednesday, May 6th. Zacks Research raised Palladyne AI to a “hold” rating in a research report on Wednesday, April 8th. Lake Street Capital assumed coverage on Palladyne AI in a research note on Friday, April 17th. They set a “buy” rating and a $11.00 price target on the stock. Wall Street Zen lowered Palladyne AI from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Finally, Northland Securities started coverage on Palladyne AI in a research note on Wednesday, April 1st. They issued an “outperform” rating and a $10.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Palladyne AI currently has an average rating of “Hold” and a consensus price target of $9.33.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Millennium Management LLC raised its holdings in shares of Palladyne AI by 767.3% in the 3rd quarter. Millennium Management LLC now owns 565,693 shares of the company’s stock worth $4,859,000 after acquiring an additional 500,472 shares during the last quarter. Geode Capital Management LLC lifted its position in Palladyne AI by 172.9% in the 2nd quarter. Geode Capital Management LLC now owns 592,640 shares of the company’s stock valued at $5,133,000 after acquiring an additional 375,440 shares in the last quarter. Themes Management Co LLC boosted its stake in Palladyne AI by 561.7% during the 1st quarter. Themes Management Co LLC now owns 392,259 shares of the company’s stock valued at $2,381,000 after purchasing an additional 332,982 shares during the last quarter. Vanguard Group Inc. increased its holdings in Palladyne AI by 26.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,528,052 shares of the company’s stock worth $13,126,000 after purchasing an additional 315,660 shares in the last quarter. Finally, Raymond James Financial Inc. increased its holdings in Palladyne AI by 96.5% during the 3rd quarter. Raymond James Financial Inc. now owns 412,586 shares of the company’s stock worth $3,544,000 after purchasing an additional 202,571 shares in the last quarter. 26.02% of the stock is currently owned by institutional investors and hedge funds.

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.