Palladyne AI Corp. (NASDAQ:PDYN) Stock Has Consensus Target Price of $11.00

Shares of Palladyne AI Corp. (NASDAQ:PDYN) have earned a consensus rating of “Hold” from the six brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $11.00.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Palladyne AI in a report on Monday, August 3rd.

Insider Transactions at Palladyne AI

In related news, CFO Trevor Thatcher sold 4,636 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $6.16, for a total transaction of $28,557.76. Following the transaction, the chief financial officer owned 319,602 shares of the company’s stock, valued at approximately $1,968,748.32. The trade was a 1.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Stephen Sonne sold 5,341 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $6.16, for a total transaction of $32,900.56. Following the transaction, the insider owned 340,690 shares of the company’s stock, valued at approximately $2,098,650.40. The trade was a 1.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 27,232 shares of company stock worth $167,749. Insiders own 13.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PDYN. Envestnet Asset Management Inc. increased its stake in Palladyne AI by 4.6% during the second quarter. Envestnet Asset Management Inc. now owns 53,877 shares of the company’s stock valued at $328,000 after acquiring an additional 2,358 shares during the period. Engineers Gate Manager LP acquired a new position in Palladyne AI in the 2nd quarter valued at approximately $167,000. Symphony Financial Ltd. Co. acquired a new position in Palladyne AI in the 2nd quarter valued at approximately $184,000. Headlands Technologies LLC bought a new stake in shares of Palladyne AI in the 2nd quarter worth approximately $123,000. Finally, Key Client Fiduciary Advisors LLC bought a new stake in shares of Palladyne AI in the 2nd quarter worth approximately $64,000. Institutional investors own 26.02% of the company’s stock.

Palladyne AI Stock Performance

PDYN stock opened at $4.64 on Friday. Palladyne AI has a 52-week low of $4.14 and a 52-week high of $10.73. The company has a 50-day moving average of $5.69 and a two-hundred day moving average of $6.05.

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

About Palladyne AI

Palladyne AI Corp. develops artificial intelligence software designed to enable robots and autonomous machines to operate in complex, unstructured environments. Its technology is intended to help robotic systems perceive their surroundings, learn from experience, make decisions and perform physical tasks with reduced human intervention.

The company’s software offerings include Palladyne IQ, an artificial intelligence platform for robotic perception, learning and autonomy, and Palladyne Pilot, which is designed to provide autonomous control for robotic systems.