Key Points
- CTO Denis Garagic sold 17,176 Palladyne AI shares on May 21 at an average price of $6.14, generating about $105,461 and reducing his ownership by 2.98%. He still directly owns 559,959 shares, worth roughly $3.44 million.
- This was not Garagic’s first recent sale—he also sold 12,945 shares on March 12 at an average price of $7.55 for about $97,735.
- Palladyne AI’s latest earnings came in below expectations, with a quarterly EPS loss of $0.28 versus an expected $0.16 loss and revenue of $3.54 million versus $4.93 million estimated. Analysts currently have a Hold consensus rating and an average price target of $9.33.
Palladyne AI Corp. (NASDAQ:PDYN - Get Free Report) CFO Trevor Thatcher sold 4,561 shares of Palladyne AI stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $6.14, for a total value of $28,004.54. Following the transaction, the chief financial officer owned 175,697 shares in the company, valued at approximately $1,078,779.58. The trade was a 2.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Trevor Thatcher also recently made the following trade(s):
- On Thursday, March 12th, Trevor Thatcher sold 7,649 shares of Palladyne AI stock. The shares were sold at an average price of $7.55, for a total value of $57,749.95.
Palladyne AI Stock Up 4.0%
Shares of PDYN opened at $6.21 on Friday. Palladyne AI Corp. has a 52-week low of $4.14 and a 52-week high of $13.00. The company has a market capitalization of $288.70 million, a PE ratio of -10.18 and a beta of 3.52. The stock has a fifty day simple moving average of $6.41 and a two-hundred day simple moving average of $6.27.
Palladyne AI (NASDAQ:PDYN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.12). Palladyne AI had a negative net margin of 358.04% and a negative return on equity of 49.17%. The firm had revenue of $3.54 million for the quarter, compared to analyst estimates of $4.93 million. As a group, equities analysts anticipate that Palladyne AI Corp. will post -0.87 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Palladyne AI
Several hedge funds have recently bought and sold shares of PDYN. Quarry LP purchased a new position in Palladyne AI during the 3rd quarter valued at about $28,000. Osaic Holdings Inc. increased its stake in Palladyne AI by 94.3% during the second quarter. Osaic Holdings Inc. now owns 5,098 shares of the company's stock worth $44,000 after purchasing an additional 2,474 shares during the period. Boothbay Fund Management LLC acquired a new stake in shares of Palladyne AI during the fourth quarter worth about $44,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Palladyne AI by 103.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 12,484 shares of the company's stock worth $53,000 after purchasing an additional 6,343 shares in the last quarter. Finally, Atom Investors LP purchased a new position in shares of Palladyne AI in the fourth quarter valued at approximately $56,000. Institutional investors and hedge funds own 26.02% of the company's stock.
Analysts Set New Price Targets
PDYN has been the topic of several recent analyst reports. Lake Street Capital initiated coverage on shares of Palladyne AI in a report on Friday, April 17th. They issued a "buy" rating and a $11.00 target price on the stock. Jefferies Financial Group restated a "hold" rating and set a $7.00 price target on shares of Palladyne AI in a report on Wednesday, May 6th. Northland Securities initiated coverage on shares of Palladyne AI in a research report on Wednesday, April 1st. They set an "outperform" rating and a $10.00 price target on the stock. Zacks Research upgraded Palladyne AI to a "hold" rating in a research report on Wednesday, April 8th. Finally, Wall Street Zen cut Palladyne AI from a "hold" rating to a "sell" rating in a research note on Saturday, March 7th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $9.33.
View Our Latest Report on PDYN
About Palladyne AI
(
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.
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