Palladyne AI Corp. (NASDAQ:PDYN – Get Free Report) has been assigned a consensus recommendation of “Hold” from the six analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $11.00.
Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Palladyne AI in a research report on Monday, August 3rd.
Get Our Latest Research Report on PDYN
Palladyne AI Price Performance
Palladyne AI (NASDAQ:PDYN – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The company had revenue of $5.78 million during the quarter, compared to analyst estimates 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, sell-side analysts expect that Palladyne AI will post -0.95 earnings per share for the current fiscal year.
Insider Activity
In related news, CTO Denis Garagic sold 17,255 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $6.16, for a total value of $106,290.80. Following the sale, the chief technology officer owned 990,798 shares in the company, valued at approximately $6,103,315.68. The trade was a 1.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Sonne sold 5,341 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $6.16, for a total value of $32,900.56. Following the completion of the sale, the insider owned 340,690 shares in the company, valued at $2,098,650.40. This represents a 1.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 27,232 shares of company stock valued at $167,749. 13.40% of the stock is currently owned by corporate insiders.
Institutional Trading of Palladyne AI
Institutional investors and hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted 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 buying an additional 6,343 shares in the last quarter. Key Client Fiduciary Advisors LLC acquired a new stake in shares of Palladyne AI in the second quarter valued at $64,000. International Assets Investment Management LLC boosted its stake in shares of Palladyne AI by 226.1% in the 1st quarter. International Assets Investment Management LLC now owns 11,466 shares of the company’s stock valued at $71,000 after buying an additional 7,950 shares during the period. Cetera Investment Advisers grew its position in shares of Palladyne AI by 25.6% during the first quarter. Cetera Investment Advisers now owns 13,769 shares of the company’s stock worth $84,000 after buying an additional 2,803 shares in the last quarter. Finally, Sei Investments Co. purchased a new stake in shares of Palladyne AI during the first quarter worth approximately $89,000. 26.02% of the stock is currently owned by hedge funds and other institutional investors.
About Palladyne AI
Palladyne AI Corp. develops artificial intelligence software designed to enable robots and autonomous machines to operate in complex, unstructured environments. Its technology is intended to help robotic systems perceive their surroundings, learn from experience, make decisions and perform physical tasks with reduced human intervention.
The company’s software offerings include Palladyne IQ, an artificial intelligence platform for robotic perception, learning and autonomy, and Palladyne Pilot, which is designed to provide autonomous control for robotic systems.
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