Palladyne AI Corp. (NASDAQ:PDYN) Given Consensus Rating of “Hold” by Brokerages

Palladyne AI Corp. (NASDAQ:PDYNGet Free Report) has been assigned an average rating of “Hold” from the six analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $9.3333.

Several analysts recently weighed in on the company. Jefferies Financial Group restated a “hold” rating and set a $7.00 price objective on shares of Palladyne AI in a research report on Wednesday, May 6th. Lake Street Capital assumed coverage on Palladyne AI in a research report on Friday, April 17th. They set a “buy” rating and a $11.00 price objective for the company. Weiss Ratings downgraded Palladyne AI from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Wall Street Zen downgraded Palladyne AI from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Finally, Zacks Research upgraded Palladyne AI to a “hold” rating in a research report on Wednesday, April 8th.

Read Our Latest Research Report on PDYN

Insider Transactions at Palladyne AI

In other news, insider Stephen Sonne sold 5,245 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $6.14, for a total transaction of $32,204.30. Following the sale, the insider directly owned 197,490 shares in the company, valued at approximately $1,212,588.60. The trade was a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Trevor Thatcher sold 4,561 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $6.14, for a total value of $28,004.54. Following the completion of the sale, the chief financial officer owned 175,697 shares of the company’s stock, valued at $1,078,779.58. The trade was a 2.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 54,378 shares of company stock worth $372,509. Insiders own 13.40% of the company’s stock.

Institutional Trading of Palladyne AI

A number of institutional investors and hedge funds have recently bought and sold shares of PDYN. Quarry LP acquired a new stake in Palladyne AI in the third quarter valued at $28,000. 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 during the period. Boothbay Fund Management LLC acquired a new stake in Palladyne AI during the 4th quarter worth about $44,000. Caitong International Asset Management Co. Ltd grew its holdings in Palladyne AI by 103.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 12,484 shares of the company’s stock worth $53,000 after acquiring an additional 6,343 shares during the period. Finally, Atom Investors LP acquired a new stake in Palladyne AI during the 4th quarter worth about $56,000. 26.02% of the stock is currently owned by institutional investors and hedge funds.

Palladyne AI Trading Down 15.8%

Shares of PDYN stock opened at $6.87 on Friday. The stock has a market cap of $319.39 million, a P/E ratio of -11.26 and a beta of 3.59. The stock has a 50 day simple moving average of $6.63 and a 200 day simple moving average of $6.33. Palladyne AI has a 1 year low of $4.14 and a 1 year high of $13.00.

Palladyne AI (NASDAQ:PDYNGet Free Report) last released its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.12). Palladyne AI had a negative return on equity of 49.17% and a negative net margin of 358.04%.The business had revenue of $3.54 million for the quarter, compared to the consensus estimate of $4.93 million. Analysts forecast that Palladyne AI will post -0.87 EPS for the current year.

About Palladyne AI

(Get Free Report)

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.

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Analyst Recommendations for Palladyne AI (NASDAQ:PDYN)

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