Palladyne AI (NASDAQ:PDYN) CTO Denis Garagic Sells 17,176 Shares of Stock

by · The Cerbat Gem

Palladyne AI Corp. (NASDAQ:PDYN – Get Free Report) CTO Denis Garagic sold 17,176 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $6.14, for a total transaction of $105,460.64. Following the sale, the chief technology officer directly owned 559,959 shares of the company’s stock, valued at approximately $3,438,148.26. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Denis Garagic also recently made the following trade(s):

  • On Thursday, March 12th, Denis Garagic sold 12,945 shares of Palladyne AI stock. The shares were sold at an average price of $7.55, for a total transaction of $97,734.75.

Palladyne AI Stock Performance

PDYN stock opened at $6.21 on Friday. The firm has a market cap of $288.70 million, a price-to-earnings ratio of -10.18 and a beta of 3.52. The firm has a 50-day simple moving average of $6.41 and a two-hundred day simple moving average of $6.27. Palladyne AI Corp. has a one year low of $4.14 and a one year high of $13.00.

Palladyne AI (NASDAQ:PDYN – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The firm had revenue of $3.54 million for the quarter, compared to analysts’ expectations of $4.93 million. Palladyne AI had a negative net margin of 358.04% and a negative return on equity of 49.17%. As a group, equities analysts predict that Palladyne AI Corp. will post -0.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Palladyne AI

Institutional investors have recently bought and sold shares of the business. Quarry LP purchased a new position in Palladyne AI during the 3rd quarter worth approximately $28,000. Osaic Holdings Inc. raised its position 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 during the last quarter. Boothbay Fund Management LLC purchased a new position in Palladyne AI during the 4th quarter worth approximately $44,000. Caitong International Asset Management Co. Ltd raised its position in Palladyne AI by 103.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 12,484 shares of the company’s stock worth $53,000 after buying an additional 6,343 shares during the last quarter. Finally, Atom Investors LP purchased a new position in Palladyne AI during the 4th quarter worth approximately $56,000. 26.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on PDYN. Weiss Ratings lowered shares of Palladyne AI from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Alliance Global Partners reaffirmed a “buy” rating on shares of Palladyne AI in a research report on Tuesday, May 5th. Wall Street Zen lowered shares of Palladyne AI from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Lake Street Capital began coverage on shares of Palladyne AI in a research report on Friday, April 17th. They issued a “buy” rating and a $11.00 price objective for the company. Finally, Northland Securities began coverage on shares of Palladyne AI in a research report on Wednesday, April 1st. They issued an “outperform” rating and a $10.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Palladyne AI currently has an average rating of “Hold” and an average price target of $9.33.

Check Out Our Latest Stock Report on Palladyne AI

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.

Recommended Stories