Key Points
- CTO Denis Garagic sold 12,945 shares on March 12 at an average price of $7.55 for $97,734.75, trimming his stake by 2.14% to 592,284 shares (≈$4.47M).
- PDYN traded around $6.97 mid-day with a market cap of $293.2M; the company beat quarterly EPS estimates (loss of $0.16 vs. -$0.18) and reported revenue of $1.66M versus $0.81M expected.
- Sentiment is mixed—two analysts rate the stock a Hold with an average price target of $8.00 while one downgraded to Sell, and institutional investors hold about 26% of shares.
Palladyne AI Corp. (NASDAQ:PDYN - Get Free Report) insider Stephen Sonne sold 6,802 shares of the business's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $7.55, for a total value of $51,355.10. Following the sale, the insider owned 206,206 shares of the company's stock, valued at approximately $1,556,855.30. This represents a 3.19% 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 Down 2.0%
Shares of PDYN traded down $0.14 during trading hours on Friday, reaching $6.92. The stock had a trading volume of 975,645 shares, compared to its average volume of 4,884,639. The firm has a 50-day simple moving average of $6.88 and a 200 day simple moving average of $6.93. Palladyne AI Corp. has a 12 month low of $4.14 and a 12 month high of $13.00. The company has a market capitalization of $291.00 million, a price-to-earnings ratio of 31.41 and a beta of 3.78.
Palladyne AI (NASDAQ:PDYN - Get Free Report) last announced its quarterly earnings results on Thursday, March 5th. The company reported ($0.16) EPS for the quarter, beating analysts' consensus estimates of ($0.18) by $0.02. Palladyne AI had a net margin of 191.37% and a return on equity of 8.82%. The business had revenue of $1.66 million during the quarter, compared to analyst estimates of $0.81 million.
Analyst Ratings Changes
PDYN has been the topic of a number of analyst reports. Jefferies Financial Group upped their target price on shares of Palladyne AI from $7.00 to $8.00 and gave the stock a "hold" rating in a report on Tuesday. Wall Street Zen lowered Palladyne AI from a "hold" rating to a "sell" rating in a report on Saturday, March 7th. Finally, Weiss Ratings raised Palladyne AI from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Thursday, March 5th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $8.00.
Get Our Latest Analysis on PDYN
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the company. Soviero Asset Management LP purchased a new stake in shares of Palladyne AI during the second quarter valued at approximately $1,645,000. Cadent Capital Advisors LLC bought a new position in Palladyne AI in the 3rd quarter valued at $1,494,000. Quantbot Technologies LP purchased a new stake in shares of Palladyne AI during the 3rd quarter valued at $597,000. Wealthspire Advisors LLC purchased a new stake in shares of Palladyne AI during the 2nd quarter valued at $216,000. Finally, XTX Topco Ltd bought a new stake in shares of Palladyne AI during the 2nd quarter worth $800,000. 26.02% of the stock is owned by institutional investors.
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. 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.
Further Reading
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].
