Palladyne AI (NASDAQ:PDYN) Coverage Initiated by Analysts at Northland Securities

Northland Securities began coverage on shares of Palladyne AI (NASDAQ:PDYN) in a research report sent to investors on Wednesday, MarketBeat.com reports. The firm issued an outperform rating and a $10.00 price objective on the stock.

Other analysts have also issued reports about the stock. Wall Street Zen lowered shares of Palladyne AI from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Weiss Ratings raised shares of Palladyne AI from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, March 5th. Finally, Jefferies Financial Group boosted their price objective on shares of Palladyne AI from $7.00 to $8.00 and gave the stock a “hold” rating in a research note on Tuesday, March 10th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Palladyne AI presently has a consensus rating of “Hold” and an average price target of $9.00.

Palladyne AI Stock Up 2.1%

PDYN stock opened at $6.20 on Wednesday. The business has a 50 day moving average price of $6.88 and a two-hundred day moving average price of $6.84. The company has a market cap of $288.24 million, a price-to-earnings ratio of 28.18 and a beta of 3.74. Palladyne AI has a twelve month low of $4.14 and a twelve month high of $13.00.

Palladyne AI (NASDAQ:PDYN) last announced its quarterly earnings data 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 company 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 Palladyne AI news, CTO Denis Garagic sold 12,945 shares of Palladyne AI stock in a transaction on 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 transaction, 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 document filed with the SEC, which is available through this hyperlink. Also, CFO Trevor Thatcher sold 7,649 shares of Palladyne AI stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $7.55, for a total transaction of $57,749.95. Following the transaction, the chief financial officer directly owned 183,288 shares of the company’s stock, valued at approximately $1,383,824.40. This trade represents a 4.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 27,396 shares of company stock worth $206,840. 13.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Palladyne AI

Several large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted its stake in shares of Palladyne AI by 103.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 12,484 shares of the company’s stock worth $53,000 after buying an additional 6,343 shares during the last quarter. Aristides Capital LLC acquired a new position in Palladyne AI in the 4th quarter valued at about $99,000. NewEdge Advisors LLC raised its holdings in Palladyne AI by 456.7% in the 4th quarter. NewEdge Advisors LLC now owns 21,883 shares of the company’s stock valued at $93,000 after acquiring an additional 17,952 shares during the period. XTX Topco Ltd bought a new position in Palladyne AI in the 4th quarter valued at about $122,000. Finally, Engineers Gate Manager LP acquired a new stake in Palladyne AI during the fourth quarter worth approximately $234,000. 26.02% of the stock is owned by institutional investors.

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.