Denis Garagic Sells 17,176 Shares of Palladyne AI (NASDAQ:PDYN) Stock

Palladyne AI Corp. (NASDAQ:PDYN) CTO Denis Garagic sold 17,176 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $6.14, for a total transaction of $105,460.64. Following the sale, the chief technology officer owned 559,959 shares in the company, valued at $3,438,148.26. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Denis Garagic also recently made the following trade(s):

• On Thursday, March 12th, Denis Garagic sold 12,945 shares of Palladyne AI stock. The stock was sold at an average price of $7.55, for a total transaction of $97,734.75.

Palladyne AI Stock Performance

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

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

Hedge Funds Weigh In On Palladyne AI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. United Capital Management of KS Inc. bought a new position in Palladyne AI during the third quarter worth $441,000. Quantbot Technologies LP bought a new position in Palladyne AI during the third quarter worth $597,000. Aristides Capital LLC bought a new position in Palladyne AI during the fourth quarter worth $99,000. Marshall Wace LLP bought a new position in Palladyne AI during the fourth quarter worth $77,000. Finally, Atom Investors LP bought a new position in Palladyne AI during the fourth quarter worth $56,000. 26.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PDYN. Weiss Ratings downgraded shares of Palladyne AI from a “hold (c-)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Jefferies Financial Group restated a “hold” rating and set a $7.00 target price on shares of Palladyne AI in a report on Wednesday, May 6th. Wall Street Zen downgraded shares of Palladyne AI from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Alliance Global Partners restated a “buy” rating on shares of Palladyne AI in a report on Tuesday, May 5th. Finally, Northland Securities initiated coverage on shares of Palladyne AI in a report on Wednesday, April 1st. They set an “outperform” rating and a $10.00 target price on the stock. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $9.33.

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. 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.