Key Points
- Director Michael Young bought 5,300 shares at $5.61 each on Nov. 18 for $29,733, raising his stake to 20,119 shares (a 35.76% increase), as disclosed in an SEC Form 4.
- PDYN shares traded up about 4.4% to $5.59 amid the report; the company has a $234.3M market cap and a 52-week range of $1.98–$14.95, and it beat EPS expectations ($‑0.09 vs. $‑0.20) while missing revenue estimates ($0.86M vs. $1.15M) and reporting steep negative margins and ROE.
- Analyst sentiment is mixed (one Buy, one Hold, one Sell) with an average rating of “Hold” and an average target of $11.50, while institutional investors own about 26.02% of the stock and several funds recently increased positions.
Palladyne AI Corp. (NASDAQ:PDYN - Get Free Report) Director Michael Young acquired 5,300 shares of the business's stock in a transaction on Tuesday, November 18th. The stock was purchased at an average cost of $5.61 per share, with a total value of $29,733.00. Following the acquisition, the director directly owned 20,119 shares of the company's stock, valued at $112,867.59. This represents a 35.76% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.
Palladyne AI Stock Up 4.4%
Shares of PDYN stock traded up $0.24 during mid-day trading on Thursday, hitting $5.59. 427,094 shares of the stock were exchanged, compared to its average volume of 2,807,632. Palladyne AI Corp. has a 52-week low of $1.98 and a 52-week 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. The firm has a fifty day moving average of $8.10 and a 200 day moving average of $8.08.
Palladyne AI (NASDAQ:PDYN - Get Free Report) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.20) by $0.11. Palladyne AI had a negative return on equity of 133.19% and a negative net margin of 953.45%.The company had revenue of $0.86 million during the quarter, compared to analysts' expectations of $1.15 million.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on PDYN shares. Weiss Ratings restated a "sell (d-)" rating on shares of Palladyne AI in a research report on Thursday, November 13th. Wall Street Zen raised Palladyne AI from a "sell" rating to a "hold" rating in a research note on Saturday, November 15th. Finally, Jefferies Financial Group began coverage on Palladyne AI in a report on Thursday, September 11th. They issued a "hold" rating and a $8.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $11.50.
View Our Latest Research Report on PDYN
Institutional Investors Weigh In On Palladyne AI
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. OMERS ADMINISTRATION Corp boosted its stake in Palladyne AI by 8.6% during the first quarter. OMERS ADMINISTRATION Corp now owns 26,600 shares of the company's stock worth $156,000 after buying an additional 2,100 shares during the last quarter. Osaic Holdings Inc. boosted its position in shares of Palladyne AI by 94.3% during 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. J.W. Cole Advisors Inc. increased its position in Palladyne AI by 18.6% during the second quarter. J.W. Cole Advisors Inc. now owns 17,200 shares of the company's stock worth $149,000 after purchasing an additional 2,700 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in Palladyne AI by 7.3% during the third quarter. SBI Securities Co. Ltd. now owns 42,027 shares of the company's stock worth $361,000 after purchasing an additional 2,855 shares during the period. Finally, Quarry LP acquired a new position in Palladyne AI in the 3rd quarter valued at about $28,000. Institutional investors and hedge funds own 26.02% of the company's stock.
Palladyne AI Company Profile
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
