Palladyne AI (NASDAQ:PDYN) Insider Kristi Martindale Sells 6,753 Shares of Stock

Palladyne AI Corp. (NASDAQ:PDYN) insider Kristi Martindale sold 6,753 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $5.11, for a total value of $34,507.83. Following the completion of the sale, the insider owned 305,483 shares in the company, valued at $1,561,018.13. The trade was a 2.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Palladyne AI Price Performance

Shares of PDYN traded down $0.08 during mid-day trading on Friday, hitting $5.16. 1,640,006 shares of the company’s stock were exchanged, 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 company has a market cap of $216.46 million, a PE ratio of -3.05 and a beta of 3.74. The company has a 50-day simple moving average of $8.02 and a 200 day simple moving average of $8.06.

Palladyne AI (NASDAQ:PDYN) last announced its earnings results on Wednesday, November 12th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.11. The business had revenue of $0.86 million during the quarter, compared to analysts’ expectations 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 hedge funds have recently bought and sold shares of the company. PharVision Advisers LLC bought a new position in Palladyne AI during the third quarter worth about $155,000. Quarry LP bought a new position in shares of Palladyne AI during the 3rd quarter worth approximately $28,000. Millennium Management LLC increased its holdings in shares of Palladyne AI by 767.3% during the 3rd quarter. Millennium Management LLC now owns 565,693 shares of the company’s stock worth $4,859,000 after acquiring an additional 500,472 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of Palladyne AI during the 3rd quarter worth approximately $204,000. Finally, Raymond James Financial Inc. raised its stake in Palladyne AI by 96.5% in the 3rd quarter. Raymond James Financial Inc. now owns 412,586 shares of the company’s stock valued at $3,544,000 after acquiring an additional 202,571 shares during the period. 26.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PDYN shares. Weiss Ratings restated a “sell (d-)” rating on shares of Palladyne AI in a report on Wednesday. Jefferies Financial Group began coverage on Palladyne AI in a research note on Thursday, September 11th. They issued a “hold” rating and a $8.00 price target for the company. Finally, Wall Street Zen raised 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. According to MarketBeat.com, Palladyne AI currently has a consensus rating of “Hold” and a consensus 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.