Palladyne AI Target of Unusually High Options Trading (NASDAQ:PDYN)

Palladyne AI Corp. (NASDAQ:PDYN) was the recipient of some unusual options trading on Tuesday. Stock traders purchased 3,671 call options on the company. This represents an increase of 64% compared to the average daily volume of 2,245 call options.

Insider Buying and Selling

In other Palladyne AI news, CTO Denis Garagic sold 15,611 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $5.11, for a total transaction of $79,772.21. Following the sale, the chief technology officer owned 569,248 shares in the company, valued at $2,908,857.28. This represents a 2.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kristi Martindale sold 6,753 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $5.11, for a total value of $34,507.83. Following the transaction, the insider directly owned 305,483 shares of the company’s stock, valued at approximately $1,561,018.13. This represents a 2.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 28,423 shares of company stock valued at $145,242 in the last three months. 13.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palladyne AI

Large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its holdings in Palladyne AI by 507.2% during the first quarter. Goldman Sachs Group Inc. now owns 115,407 shares of the company’s stock worth $679,000 after buying an additional 96,402 shares in the last quarter. Perigon Wealth Management LLC acquired a new stake in shares of Palladyne AI during the 2nd quarter valued at approximately $330,000. Soviero Asset Management LP acquired a new stake in shares of Palladyne AI during the 2nd quarter valued at approximately $1,645,000. Vontobel Holding Ltd. acquired a new stake in shares of Palladyne AI during the 2nd quarter valued at approximately $130,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Palladyne AI by 134,437.5% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 21,526 shares of the company’s stock worth $186,000 after acquiring an additional 21,510 shares in the last quarter. 26.02% of the stock is owned by hedge funds and other institutional investors.

Palladyne AI Trading Up 13.9%

NASDAQ:PDYN traded up $0.87 during midday trading on Tuesday, hitting $7.14. 5,532,786 shares of the company were exchanged, compared to its average volume of 2,728,164. Palladyne AI has a fifty-two week low of $4.14 and a fifty-two week high of $13.00. The company has a market capitalization of $300.33 million, a PE ratio of -4.25 and a beta of 3.79. The company has a fifty day simple moving average of $5.46 and a 200 day simple moving average of $7.40.

Palladyne AI (NASDAQ:PDYN) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate 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 company had revenue of $0.86 million for the quarter, compared to analyst estimates of $1.15 million.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PDYN shares. Wall Street Zen upgraded shares of Palladyne AI from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Palladyne AI in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $11.50.

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.