Palladyne AI Corp. (NASDAQ:PDYN) Receives Average Rating of “Hold” from Analysts

Shares of Palladyne AI Corp. (NASDAQ:PDYN) have received a consensus rating of “Hold” from the six brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $11.00.

Several brokerages have recently issued reports on PDYN. Jefferies Financial Group raised shares of Palladyne AI to a “hold” rating in a report on Wednesday, June 10th. Northland Securities set a $15.00 price objective on Palladyne AI in a research note on Monday, June 8th. Alliance Global Partners reiterated a “buy” rating on shares of Palladyne AI in a report on Tuesday, May 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Palladyne AI in a report on Monday, August 3rd.

Institutional Investors Weigh In On Palladyne AI

Several large investors have recently made changes to their positions in PDYN. Quarry LP acquired a new stake in Palladyne AI in the 3rd quarter valued at $28,000. Osaic Holdings Inc. raised its stake 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 worth $44,000 after purchasing an additional 2,474 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of Palladyne AI in the 4th quarter valued at approximately $44,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Palladyne AI by 103.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 12,484 shares of the company’s stock valued at $53,000 after buying an additional 6,343 shares during the last quarter. Finally, Atom Investors LP bought a new position in shares of Palladyne AI in the fourth quarter valued at $56,000. Institutional investors own 26.02% of the company’s stock.

Palladyne AI Price Performance

Palladyne AI stock opened at $6.23 on Thursday. The firm has a market capitalization of $307.39 million, a price-to-earnings ratio of -9.16 and a beta of 3.65. The company’s 50 day simple moving average is $5.83 and its 200 day simple moving average is $6.45. Palladyne AI has a fifty-two week low of $4.14 and a fifty-two week high of $10.73.

Palladyne AI (NASDAQ:PDYN) last issued its earnings results on Thursday, August 6th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The firm had revenue of $5.78 million during the quarter, compared to the consensus estimate of $5.80 million. Palladyne AI had a negative net margin of 254.75% and a negative return on equity of 53.29%. As a group, analysts predict that Palladyne AI will post -0.95 EPS for the current fiscal year.

Palladyne AI Company Profile

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.