Insider Selling: Palladyne AI (NASDAQ:PDYN) CFO Sells 4,561 Shares of Stock

Palladyne AI Corp. (NASDAQ:PDYN) CFO Trevor Thatcher sold 4,561 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 $28,004.54. Following the sale, the chief financial officer directly owned 175,697 shares in the company, valued at $1,078,779.58. This trade represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Trevor Thatcher also recently made the following trade(s):

• On Thursday, March 12th, Trevor Thatcher sold 7,649 shares of Palladyne AI stock. The stock was sold at an average price of $7.55, for a total transaction of $57,749.95.

Palladyne AI Price Performance

NASDAQ:PDYN traded up $0.24 on Thursday, hitting $6.21. 1,023,359 shares of the company’s stock were exchanged, compared to its average volume of 1,328,346. The firm has a 50-day moving average price of $6.41 and a 200-day moving average price of $6.27. Palladyne AI Corp. has a 52 week low of $4.14 and a 52 week high of $13.00. The company has a market cap of $288.70 million, a P/E ratio of -10.18 and a beta of 3.52.

Palladyne AI (NASDAQ:PDYN) last issued its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). The firm had revenue of $3.54 million during the quarter, compared to the consensus estimate of $4.93 million. Palladyne AI had a negative net margin of 358.04% and a negative return on equity of 49.17%. On average, research analysts expect that Palladyne AI Corp. will post -0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PDYN. Jefferies Financial Group reaffirmed a “hold” rating and issued a $7.00 target price on shares of Palladyne AI in a report on Wednesday, May 6th. Alliance Global Partners reaffirmed a “buy” rating on shares of Palladyne AI in a report on Tuesday, May 5th. Weiss Ratings cut shares of Palladyne AI from a “hold (c-)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Lake Street Capital began coverage on shares of Palladyne AI in a report on Friday, April 17th. They issued a “buy” rating and a $11.00 target price on the stock. Finally, Northland Securities began coverage on shares of Palladyne AI in a report on Wednesday, April 1st. They issued an “outperform” rating and a $10.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $9.33.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Quarry LP bought a new position in Palladyne AI in the 3rd quarter valued at about $28,000. Osaic Holdings Inc. raised its holdings in Palladyne AI by 94.3% in the 2nd quarter. Osaic Holdings Inc. now owns 5,098 shares of the company’s stock valued at $44,000 after acquiring an additional 2,474 shares during the period. Russell Investments Group Ltd. bought a new position in Palladyne AI in the 3rd quarter valued at about $61,000. Virtu Financial LLC bought a new position in Palladyne AI in the 3rd quarter valued at about $86,000. Finally, Boothbay Fund Management LLC bought a new position in Palladyne AI in the 4th quarter valued at about $44,000. 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. 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.