Trevor Thatcher Sells 4,636 Shares of Palladyne AI (NASDAQ:PDYN) Stock

Palladyne AI Corp. (NASDAQ:PDYN) CFO Trevor Thatcher sold 4,636 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $6.16, for a total transaction of $28,557.76. Following the completion of the transaction, the chief financial officer directly owned 319,602 shares of the company’s stock, valued at $1,968,748.32. This trade represents a 1.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Palladyne AI Trading Up 0.5%

NASDAQ PDYN opened at $6.13 on Friday. Palladyne AI Corp. has a 1-year low of $4.14 and a 1-year high of $10.73. The company has a market capitalization of $302.45 million, a price-to-earnings ratio of -9.01 and a beta of 3.65. The stock’s 50 day moving average is $5.81 and its two-hundred day moving average is $6.45.

Palladyne AI (NASDAQ:PDYN) last issued its earnings results on Thursday, August 6th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). The company had revenue of $5.78 million during the quarter, compared to analyst estimates of $5.80 million. Palladyne AI had a negative return on equity of 53.29% and a negative net margin of 254.75%. On average, analysts predict that Palladyne AI Corp. will post -0.95 earnings per share for the current year.

Analysts Set New Price Targets

PDYN has been the topic of several analyst reports. Northland Securities set a $15.00 target price on shares of Palladyne AI in a report on Monday, June 8th. Jefferies Financial Group raised shares of Palladyne AI to a “hold” rating in a research note on Wednesday, June 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Palladyne AI in a report on Monday, August 3rd. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Palladyne AI in a report on Tuesday, May 5th. Three research 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.00.

Hedge Funds Weigh In On Palladyne AI

A number of institutional investors have recently modified their holdings of PDYN. Quarry LP bought a new stake in shares of Palladyne AI during the third quarter valued at approximately $28,000. Osaic Holdings Inc. lifted its holdings in Palladyne AI by 94.3% during the 2nd quarter. Osaic Holdings Inc. now owns 5,098 shares of the company’s stock worth $44,000 after buying an additional 2,474 shares in the last quarter. Boothbay Fund Management LLC bought a new position in Palladyne AI in the 4th quarter valued at $44,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Palladyne AI by 103.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 12,484 shares of the company’s stock valued at $53,000 after buying an additional 6,343 shares during the period. Finally, Atom Investors LP acquired a new stake in shares of Palladyne AI in the 4th quarter valued at $56,000. 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.