Palladyne AI Corp. (NASDAQ:PDYN – Get Free Report) has earned an average recommendation of “Hold” from the six brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $11.00.
A number of brokerages have weighed in on PDYN. Northland Securities set a $15.00 target price on Palladyne AI in a report on Monday, June 8th. Jefferies Financial Group upgraded Palladyne AI to a “hold” rating in a report on Wednesday, June 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Palladyne AI in a research note on Monday, August 3rd.
Get Our Latest Stock Report on PDYN
Palladyne AI Trading Down 1.2%
Palladyne AI (NASDAQ:PDYN – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The business had revenue of $5.78 million during the quarter, compared to the consensus estimate of $5.80 million. Palladyne AI had a negative return on equity of 53.29% and a negative net margin of 254.75%. As a group, research analysts predict that Palladyne AI will post -0.95 EPS for the current fiscal year.
Insider Buying and Selling
In other news, CFO Trevor Thatcher sold 4,636 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $6.16, for a total transaction of $28,557.76. Following the transaction, the chief financial officer owned 319,602 shares in the company, valued at approximately $1,968,748.32. This represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Denis Garagic sold 17,255 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $6.16, for a total transaction of $106,290.80. Following the transaction, the chief technology officer owned 990,798 shares in the company, valued at $6,103,315.68. This represents a 1.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 27,232 shares of company stock valued at $167,749 over the last ninety days. 13.40% of the stock is owned by corporate insiders.
Institutional Trading of Palladyne AI
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Themes Management Co LLC boosted its holdings in Palladyne AI by 561.7% in the first quarter. Themes Management Co LLC now owns 392,259 shares of the company’s stock worth $2,381,000 after acquiring an additional 332,982 shares in the last quarter. Covestor Ltd increased its stake in Palladyne AI by 482.2% during the 4th quarter. Covestor Ltd now owns 127,345 shares of the company’s stock valued at $542,000 after purchasing an additional 105,471 shares in the last quarter. Royal Bank of Canada raised its holdings in Palladyne AI by 14.6% during the first quarter. Royal Bank of Canada now owns 90,825 shares of the company’s stock worth $551,000 after buying an additional 11,565 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Palladyne AI by 27.4% during the first quarter. Bank of New York Mellon Corp now owns 75,908 shares of the company’s stock worth $461,000 after buying an additional 16,315 shares during the last quarter. Finally, Arkadios Wealth Advisors bought a new position in shares of Palladyne AI in the first quarter valued at $375,000. 26.02% of the stock is owned by institutional investors.
About Palladyne AI
Palladyne AI Corp. (NASDAQ: PDYN) develops artificial intelligence software designed to enable robots and autonomous systems to perceive their surroundings, learn from experience, make decisions and perform tasks with limited human intervention. Its technology is intended to support applications across defense, industrial, commercial and other robotic markets.
The company’s offerings include the Palladyne IQ software platform, which is designed to provide autonomous capabilities for unmanned aerial, ground and other robotic systems.
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