Cadent Capital Advisors LLC Sells 120,521 Shares of Palladyne AI Corp. $PDYN

Cadent Capital Advisors LLC cut its stake in Palladyne AI Corp. (NASDAQ:PDYN) by 69.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,453 shares of the company’s stock after selling 120,521 shares during the period. Cadent Capital Advisors LLC owned approximately 0.13% of Palladyne AI worth $228,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PDYN. PharVision Advisers LLC acquired a new position in shares of Palladyne AI in the 3rd quarter valued at approximately $155,000. Quarry LP bought a new stake in shares of Palladyne AI during the 3rd quarter worth approximately $28,000. Millennium Management LLC boosted its position in shares of Palladyne AI by 767.3% during the 3rd quarter. Millennium Management LLC now owns 565,693 shares of the company’s stock worth $4,859,000 after acquiring an additional 500,472 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Palladyne AI during the 3rd quarter worth approximately $204,000. Finally, Raymond James Financial Inc. increased its stake in Palladyne AI by 96.5% in the third quarter. Raymond James Financial Inc. now owns 412,586 shares of the company’s stock valued at $3,544,000 after acquiring an additional 202,571 shares during the last quarter. 26.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on PDYN. Wall Street Zen cut Palladyne AI from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Weiss Ratings raised Palladyne AI from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, March 5th. Finally, Jefferies Financial Group lifted their target price on Palladyne AI from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Tuesday, March 10th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.00.

Palladyne AI Stock Down 2.7%

PDYN stock opened at $6.24 on Friday. The firm has a market cap of $290.10 million, a price-to-earnings ratio of 28.36 and a beta of 3.78. Palladyne AI Corp. has a 12-month low of $4.14 and a 12-month high of $13.00. The company’s fifty day simple moving average is $6.95 and its 200 day simple moving average is $6.87.

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

Insider Transactions at Palladyne AI

In other news, CTO Denis Garagic sold 12,945 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $7.55, for a total transaction of $97,734.75. Following the completion of the sale, the chief technology officer directly owned 592,284 shares of the company’s stock, valued at $4,471,744.20. The trade was a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Trevor Thatcher sold 7,649 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $7.55, for a total transaction of $57,749.95. Following the sale, the chief financial officer directly owned 183,288 shares of the company’s stock, valued at approximately $1,383,824.40. The trade was a 4.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 27,396 shares of company stock valued at $206,840 over the last ninety days. 13.40% of the stock is owned by company insiders.

Palladyne AI 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.