Palladyne AI (NASDAQ:PDYN) Insider Stephen Sonne Sells 3,411 Shares of Stock

by · The Markets Daily

Palladyne AI Corp. (NASDAQ:PDYN – Get Free Report) insider Stephen Sonne sold 3,411 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $5.11, for a total transaction of $17,430.21. Following the completion of the transaction, the insider owned 187,008 shares of the company’s stock, valued at $955,610.88. This trade represents a 1.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Palladyne AI Stock Performance

PDYN traded down $0.08 during mid-day trading on Friday, reaching $5.16. The stock had a trading volume of 1,640,006 shares, compared to its average volume of 1,285,065. The firm’s fifty day simple moving average is $8.02 and its two-hundred day simple moving average is $8.06. The stock has a market capitalization of $216.46 million, a P/E ratio of -3.05 and a beta of 3.74. Palladyne AI Corp. has a 52 week low of $2.15 and a 52 week high of $14.95.

Palladyne AI (NASDAQ:PDYN – Get Free Report) last released its 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. The company had revenue of $0.86 million during the quarter, compared to the consensus estimate of $1.15 million. Palladyne AI had a negative return on equity of 133.19% and a negative net margin of 953.45%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Palladyne AI from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Jefferies Financial Group started coverage on shares of Palladyne AI in a research note on Thursday, September 11th. They set a “hold” rating and a $8.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Palladyne AI in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.50.

Read Our Latest Stock Analysis on PDYN

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. acquired a new position in Palladyne AI during the first quarter valued at approximately $35,000. Covestor Ltd boosted its position in shares of Palladyne AI by 5,657.0% during the first quarter. Covestor Ltd now owns 14,047 shares of the company’s stock worth $83,000 after purchasing an additional 13,803 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Palladyne AI during the first quarter worth $673,000. AlphaQuest LLC acquired a new position in shares of Palladyne AI in the 1st quarter valued at $132,000. Finally, OMERS ADMINISTRATION Corp increased its position in shares of Palladyne AI by 8.6% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 26,600 shares of the company’s stock valued at $156,000 after buying an additional 2,100 shares in the last quarter. Institutional investors own 26.02% of the company’s stock.

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.

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