Palladyne AI (NASDAQ:PDYN) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Palladyne AI (NASDAQ:PDYN) from a hold rating to a sell rating in a research report report published on Sunday.

A number of other analysts have also weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Palladyne AI in a report on Wednesday, October 8th. Jefferies Financial Group assumed coverage on shares of Palladyne AI in a report on Thursday, September 11th. They issued a “hold” rating and a $8.00 price target for the company. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.50.

Palladyne AI Trading Down 2.2%

NASDAQ:PDYN opened at $8.81 on Friday. Palladyne AI has a 1 year low of $1.69 and a 1 year high of $14.95. The firm has a 50 day moving average of $8.15 and a 200-day moving average of $7.87. The stock has a market capitalization of $369.58 million, a P/E ratio of -4.71 and a beta of 3.75.

Insiders Place Their Bets

In other Palladyne AI news, insider Kristi Martindale sold 6,406 shares of Palladyne AI stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $7.42, for a total transaction of $47,532.52. Following the completion of the sale, the insider owned 312,236 shares of the company’s stock, valued at approximately $2,316,791.12. The trade was a 2.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Denis Garagic sold 14,809 shares of Palladyne AI stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $7.42, for a total transaction of $109,882.78. Following the transaction, the chief technology officer directly owned 584,859 shares in the company, valued at approximately $4,339,653.78. This represents a 2.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,963 shares of company stock valued at $200,065 in the last ninety days. Company insiders own 13.40% of the company’s stock.

Institutional Investors Weigh In On Palladyne AI

Institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. bought a new stake in Palladyne AI in the 1st quarter valued at $35,000. Osaic Holdings Inc. increased its stake in shares of 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 purchasing an additional 2,474 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Palladyne AI during the 2nd quarter worth about $51,000. Covestor Ltd increased its stake in shares of Palladyne AI by 5,657.0% during the 1st quarter. Covestor Ltd now owns 14,047 shares of the company’s stock worth $83,000 after purchasing an additional 13,803 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new position in Palladyne AI in the 2nd quarter valued at about $92,000. 26.02% of the stock is owned by institutional investors.

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.