Palladyne AI (NASDAQ:PDYN) Insider Sells $34,507.83 in Stock

Palladyne AI Corp. (NASDAQ:PDYN) insider Kristi Martindale sold 6,753 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $5.11, for a total transaction of $34,507.83. Following the completion of the sale, the insider owned 305,483 shares of the company’s stock, valued at $1,561,018.13. This represents a 2.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Palladyne AI Trading Down 1.5%

NASDAQ PDYN traded down $0.08 during trading on Friday, hitting $5.16. 1,640,006 shares of the company traded hands, compared to its average volume of 1,285,065. Palladyne AI Corp. has a 12 month low of $2.15 and a 12 month high of $14.95. The business has a fifty day simple moving average of $8.02 and a 200 day simple moving average of $8.06. The company has a market capitalization of $216.46 million, a P/E ratio of -3.05 and a beta of 3.74.

Palladyne AI (NASDAQ:PDYN) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.11. Palladyne AI had a negative return on equity of 133.19% and a negative net margin of 953.45%.The business had revenue of $0.86 million for the quarter, compared to the consensus estimate of $1.15 million.

Institutional Trading of Palladyne AI

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Palladyne AI by 26.0% during the third quarter. Vanguard Group Inc. now owns 1,528,052 shares of the company’s stock valued at $13,126,000 after buying an additional 315,660 shares during the last quarter. Geode Capital Management LLC increased its stake in Palladyne AI by 172.9% during the second 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 during the period. Millennium Management LLC raised its holdings in Palladyne AI by 767.3% in the 3rd quarter. Millennium Management LLC now owns 565,693 shares of the company’s stock valued at $4,859,000 after acquiring an additional 500,472 shares in the last quarter. Raymond James Financial Inc. raised its holdings in Palladyne AI by 96.5% in the 3rd quarter. Raymond James Financial Inc. now owns 412,586 shares of the company’s stock valued at $3,544,000 after acquiring an additional 202,571 shares in the last quarter. Finally, Jump Financial LLC lifted its position in shares of Palladyne AI by 91.9% in the 3rd quarter. Jump Financial LLC now owns 260,800 shares of the company’s stock worth $2,240,000 after acquiring an additional 124,881 shares during the period. 26.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on PDYN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Palladyne AI in a report on Wednesday. Wall Street Zen raised shares of Palladyne AI from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Jefferies Financial Group began coverage on shares of Palladyne AI in a report on Thursday, September 11th. They set a “hold” rating and a $8.00 price target for the company. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.50.

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.