Palladyne AI (NASDAQ:PDYN) Director Michael Young Acquires 5,300 Shares of Stock

Palladyne AI Corp. (NASDAQ:PDYN) Director Michael Young acquired 5,300 shares of the stock in a transaction dated Tuesday, November 18th. The stock was acquired at an average price of $5.61 per share, for a total transaction of $29,733.00. Following the completion of the transaction, the director directly owned 20,119 shares of the company’s stock, valued at approximately $112,867.59. This represents a 35.76% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Palladyne AI Trading Up 4.4%

PDYN traded up $0.24 during trading on Thursday, hitting $5.59. 427,094 shares of the company traded hands, compared to its average volume of 2,807,632. The stock’s 50-day simple moving average is $8.10 and its two-hundred day simple moving average is $8.08. Palladyne AI Corp. has a 1 year low of $1.98 and a 1 year high of $14.95. The company has a market cap of $234.33 million, a PE ratio of -3.32 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 (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.11. The firm had revenue of $0.86 million for 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%.

Hedge Funds Weigh In On Palladyne AI

Institutional investors have recently bought and sold shares of the business. Quarry LP purchased a new stake in Palladyne AI in the third quarter valued at about $28,000. PNC Financial Services Group Inc. acquired a new stake in Palladyne AI during the 1st quarter valued at approximately $35,000. Osaic Holdings Inc. boosted its holdings in shares of 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 last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Palladyne AI in the second quarter worth $51,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Palladyne AI during the third quarter worth $61,000. 26.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Palladyne AI in a research report on Thursday, September 11th. They issued a “hold” rating and a $8.00 price target on the stock. Wall Street Zen upgraded shares of Palladyne AI from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Palladyne AI in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.