Denis Garagic Sells 15,611 Shares of Palladyne AI (NASDAQ:PDYN) Stock

Palladyne AI Corp. (NASDAQ:PDYN) CTO Denis Garagic sold 15,611 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $5.11, for a total transaction of $79,772.21. Following the sale, the chief technology officer directly owned 569,248 shares in the company, valued at $2,908,857.28. The trade was a 2.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Palladyne AI Stock Performance

Shares of PDYN traded down $0.08 during trading hours on Friday, hitting $5.16. The stock had a trading volume of 1,640,006 shares, compared to its average volume of 1,285,065. The firm has a 50-day moving average price of $8.02 and a 200 day moving average price of $8.06. Palladyne AI Corp. has a fifty-two week low of $2.15 and a fifty-two week high of $14.95. The firm has a market capitalization of $216.46 million, a price-to-earnings ratio of -3.05 and a beta of 3.74.

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

Institutional Investors Weigh In On Palladyne AI

Several large investors have recently bought and sold shares of the company. Quarry LP purchased a new position in shares of Palladyne AI in the third quarter valued at approximately $28,000. PNC Financial Services Group Inc. purchased a new stake in shares of Palladyne AI during the first quarter worth approximately $35,000. Osaic Holdings Inc. raised its stake 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 purchasing an additional 2,474 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in Palladyne AI in the 2nd quarter valued at $51,000. Finally, Russell Investments Group Ltd. purchased a new position in Palladyne AI in the 3rd quarter valued at $61,000. 26.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Wall Street Zen raised Palladyne AI from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Jefferies Financial Group initiated coverage on Palladyne AI in a research report on Thursday, September 11th. They issued a “hold” rating and a $8.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Palladyne AI in a research note on Wednesday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Palladyne AI currently has an average rating of “Hold” and an average price target of $11.50.

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.