Palladyne AI’s (PDYN) “Sell (E+)” Rating Reiterated at Weiss Ratings

Palladyne AI (NASDAQ:PDYN)‘s stock had its “sell (e+)” rating restated by stock analysts at Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

A number of other brokerages have also recently commented on PDYN. Jefferies Financial Group assumed coverage on shares of Palladyne AI in a report on Thursday, September 11th. They issued a “hold” rating and a $8.00 target price for the company. Wall Street Zen cut shares of Palladyne AI from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Palladyne AI has a consensus rating of “Hold” and an average target price of $11.50.

Palladyne AI Price Performance

Shares of PDYN opened at $8.26 on Friday. Palladyne AI has a 1-year low of $1.69 and a 1-year high of $14.95. The stock has a market cap of $346.51 million, a PE ratio of -4.42 and a beta of 3.75. The firm has a fifty day moving average price of $8.22 and a 200 day moving average price of $7.95.

Insiders Place Their Bets

In related news, CTO Denis Garagic sold 14,809 shares of the firm’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 of the company’s stock, valued at approximately $4,339,653.78. This trade represents a 2.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kristi Martindale sold 6,406 shares of the firm’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 $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. The trade was a 2.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,963 shares of company stock worth $200,065. Insiders own 13.40% of the company’s stock.

Institutional Investors Weigh In On Palladyne AI

A number of large investors have recently added to or reduced their stakes in the company. Carnegie Investment Counsel acquired a new stake in Palladyne AI during the 3rd quarter valued at $601,000. Griffin Asset Management Inc. acquired a new stake in Palladyne AI during the 3rd quarter valued at $125,000. Cadent Capital Advisors LLC acquired a new stake in Palladyne AI during the 3rd quarter valued at $1,494,000. Vontobel Holding Ltd. grew its holdings in Palladyne AI by 41.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 21,243 shares of the company’s stock valued at $182,000 after purchasing an additional 6,270 shares in the last quarter. Finally, Osaic Holdings Inc. grew its holdings in Palladyne AI by 94.3% during the 2nd quarter. Osaic Holdings Inc. now owns 5,098 shares of the company’s stock worth $44,000 after acquiring an additional 2,474 shares in the last quarter. 26.02% of the stock is 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.