Jefferies Financial Group Issues Positive Forecast for Palladyne AI (NASDAQ:PDYN) Stock Price

Palladyne AI (NASDAQ:PDYN) had its price objective boosted by Jefferies Financial Group from $7.00 to $8.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

PDYN has been the topic of several other research reports. Weiss Ratings raised shares of Palladyne AI from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, March 5th. Wall Street Zen cut shares of Palladyne AI from a “hold” rating to a “sell” rating in a research report on Saturday. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $8.00.

Palladyne AI Stock Down 3.5%

PDYN stock opened at $7.55 on Tuesday. The company has a market cap of $317.40 million, a price-to-earnings ratio of 34.32 and a beta of 3.78. The business has a fifty day simple moving average of $6.76 and a 200-day simple moving average of $6.93. Palladyne AI has a 52 week low of $4.14 and a 52 week high of $13.00.

Palladyne AI (NASDAQ:PDYN) last issued its earnings results on Thursday, March 5th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. Palladyne AI had a return on equity of 8.82% and a net margin of 191.37%.The firm had revenue of $1.66 million for the quarter, compared to analysts’ expectations of $0.81 million.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its position in Palladyne AI by 94.3% in the 2nd quarter. Osaic Holdings Inc. now owns 5,098 shares of the company’s stock valued at $44,000 after purchasing an additional 2,474 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in Palladyne AI by 18.6% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 17,200 shares of the company’s stock valued at $149,000 after acquiring an additional 2,700 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in Palladyne AI by 7.3% during the 3rd quarter. SBI Securities Co. Ltd. now owns 42,027 shares of the company’s stock worth $361,000 after acquiring an additional 2,855 shares during the period. Quarry LP acquired a new position in Palladyne AI during the 3rd quarter worth $28,000. Finally, Bridgeway Capital Management LLC grew its stake 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 purchasing an additional 4,300 shares in the last quarter. 26.02% of the stock is currently owned by institutional investors.

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. 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.