Palladyne AI (NASDAQ:PDYN) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Palladyne AI (NASDAQ:PDYN) from a sell rating to a hold rating in a report published on Monday morning.

A number of other analysts also recently weighed in on the company. Jefferies Financial Group started coverage on Palladyne AI in a research note on Thursday, September 11th. They issued a “hold” rating and a $8.00 price target on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Palladyne AI in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Palladyne AI has an average rating of “Hold” and a consensus target price of $11.50.

Palladyne AI Price Performance

Palladyne AI stock opened at $8.29 on Monday. Palladyne AI has a 1-year low of $1.69 and a 1-year high of $14.95. The company has a market cap of $347.76 million, a PE ratio of -4.43 and a beta of 3.75. The stock’s 50 day moving average price is $8.24 and its 200 day moving average price is $7.98.

Insiders Place Their Bets

In other Palladyne AI news, insider Kristi Martindale sold 6,406 shares of the business’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $7.42, for a total transaction of $47,532.52. Following the sale, the insider directly owned 312,236 shares in the company, valued at approximately $2,316,791.12. The trade was a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Denis Garagic sold 14,809 shares of the business’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $7.42, for a total value of $109,882.78. Following the sale, the chief technology officer owned 584,859 shares in the company, valued at approximately $4,339,653.78. The trade was a 2.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,963 shares of company stock worth $200,065. 13.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Palladyne AI

A number of institutional investors have recently made changes to their positions in the stock. OMERS ADMINISTRATION Corp raised its holdings in shares of Palladyne AI by 8.6% in the first quarter. OMERS ADMINISTRATION Corp now owns 26,600 shares of the company’s stock worth $156,000 after acquiring an additional 2,100 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of Palladyne AI by 94.3% in the second quarter. Osaic Holdings Inc. now owns 5,098 shares of the company’s stock worth $44,000 after acquiring an additional 2,474 shares during the last quarter. J.W. Cole Advisors Inc. raised its holdings in shares of Palladyne AI by 18.6% in the second quarter. J.W. Cole Advisors Inc. now owns 17,200 shares of the company’s stock worth $149,000 after acquiring an additional 2,700 shares during the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of Palladyne AI by 9.7% in the second quarter. Bridgeway Capital Management LLC now owns 48,700 shares of the company’s stock worth $422,000 after acquiring an additional 4,300 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Palladyne AI in the second quarter worth $51,000. 26.02% of the stock is owned by institutional investors and hedge funds.

About Palladyne AI

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.