Palladyne AI (NASDAQ:PDYN) Insider Sells $17,430.21 in Stock

Palladyne AI Corp. (NASDAQ:PDYN) insider Stephen Sonne sold 3,411 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $5.11, for a total transaction of $17,430.21. Following the completion of the sale, the insider directly owned 187,008 shares of the company’s stock, valued at $955,610.88. This represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Palladyne AI Trading Down 1.5%

Shares of NASDAQ:PDYN traded down $0.08 on Friday, reaching $5.16. 1,640,006 shares of the company traded hands, compared to its average volume of 1,285,065. Palladyne AI Corp. has a 52 week low of $2.15 and a 52 week high of $14.95. The business’s 50-day simple moving average is $8.02 and its 200 day simple moving average is $8.06. The stock has a market capitalization of $216.46 million, a P/E ratio of -3.05 and a beta of 3.74.

Palladyne AI (NASDAQ:PDYN) last issued its earnings results on Wednesday, November 12th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.11. The company had revenue of $0.86 million during the quarter, compared to analysts’ expectations of $1.15 million. Palladyne AI had a negative return on equity of 133.19% and a negative net margin of 953.45%.

Institutional Trading of Palladyne AI

Several large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its position in Palladyne AI by 507.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 115,407 shares of the company’s stock valued at $679,000 after purchasing an additional 96,402 shares during the period. Perigon Wealth Management LLC purchased a new stake in shares of Palladyne AI in the 2nd quarter worth about $330,000. EntryPoint Capital LLC bought a new stake in shares of Palladyne AI during the 1st quarter valued at about $673,000. Vontobel Holding Ltd. purchased a new position in shares of Palladyne AI during the second quarter valued at about $130,000. Finally, PNC Financial Services Group Inc. purchased a new position in shares of Palladyne AI during the first quarter valued at about $35,000. Institutional investors own 26.02% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PDYN. Jefferies Financial Group started coverage on shares of Palladyne AI in a research note on Thursday, September 11th. They issued a “hold” rating and a $8.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Palladyne AI in a report on Wednesday. Finally, Wall Street Zen upgraded shares of Palladyne AI from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Palladyne AI has a consensus rating of “Hold” and an average target price of $11.50.

Palladyne AI Company Profile

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.