Michael Young Purchases 5,300 Shares of Palladyne AI (NASDAQ:PDYN) Stock

Palladyne AI Corp. (NASDAQ:PDYN) Director Michael Young bought 5,300 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was bought at an average cost of $5.61 per share, for a total transaction of $29,733.00. Following the completion of the purchase, the director owned 20,119 shares of the company’s stock, valued at approximately $112,867.59. The trade was a 35.76% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Palladyne AI Price Performance

Palladyne AI stock traded down $0.28 during mid-day trading on Wednesday, reaching $5.35. The stock had a trading volume of 1,650,641 shares, compared to its average volume of 2,818,692. Palladyne AI Corp. has a one year low of $1.87 and a one year high of $14.95. The company has a 50-day moving average price of $8.10 and a two-hundred day moving average price of $8.08. The company has a market capitalization of $224.43 million, a price-to-earnings ratio of -3.17 and a beta of 3.74.

Palladyne AI (NASDAQ:PDYN) last released 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. The business had revenue of $0.86 million during the quarter, compared to analyst estimates of $1.15 million. Palladyne AI had a negative net margin of 953.45% and a negative return on equity of 133.19%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Palladyne AI by 26.0% in the third quarter. Vanguard Group Inc. now owns 1,528,052 shares of the company’s stock valued at $13,126,000 after acquiring an additional 315,660 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Palladyne AI by 172.9% during the second quarter. Geode Capital Management LLC now owns 592,640 shares of the company’s stock worth $5,133,000 after purchasing an additional 375,440 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Palladyne AI by 767.3% during the 3rd quarter. Millennium Management LLC now owns 565,693 shares of the company’s stock valued at $4,859,000 after purchasing an additional 500,472 shares during the last quarter. Raymond James Financial Inc. boosted its position in shares of Palladyne AI by 96.5% in 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. Finally, Jump Financial LLC grew its stake in Palladyne AI by 91.9% during the 3rd quarter. Jump Financial LLC now owns 260,800 shares of the company’s stock worth $2,240,000 after buying an additional 124,881 shares during the last quarter. Institutional investors own 26.02% of the company’s stock.

Analyst Ratings Changes

PDYN has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Palladyne AI in a report on Thursday, November 13th. Jefferies Financial Group began coverage on shares of Palladyne AI in a research note on Thursday, September 11th. They set a “hold” rating and a $8.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Palladyne AI from a “sell” rating to a “hold” rating in a research report on Saturday. 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 company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.