During the last session, Palladyne AI Corp. (NASDAQ:STRC)’s traded shares were 1.66 million, with the beta value of the company hitting 3.18. At the end of the trading day, the stock’s price was $2.46, reflecting an intraday gain of 27.46% or $0.53. The 52-week high for the STRC share is $3.25, that puts it down -32.11 from that peak though still a striking 83.74% gain since the share price plummeted to a 52-week low of $0.40. The company’s market capitalization is $63.71M, and the average intraday trading volume over the past 10 days was 0.45 million shares, and the average trade volume was 947.28K shares over the past three months.
Palladyne AI Corp. (NASDAQ:STRC) trade information
Palladyne AI Corp. (STRC) registered a 27.46% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 27.46% in intraday trading to $2.46, hitting a weekly high. The stock’s 5-day price performance is 35.91%, and it has moved by 25.51% in 30 days. Based on these gigs, the overall price performance for the year is -16.67%. The short interest in Palladyne AI Corp. (NASDAQ:STRC) is 0.64 million shares and it means that shorts have 0.31 day(s) to cover.
Palladyne AI Corp. (STRC) estimates and forecasts
In the rating firms’ projections, revenue will decrease -57.80% compared to the previous financial year.
Revenue for the current quarter is expected to be $746k as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $15.5 million by the end of Mar 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $6.12 million and $2.3 million respectively. In this case, analysts expect current quarter sales to shrink by -87.80% and then jump by 575.10% in the coming quarter.
STRC Dividends
Palladyne AI Corp. is due to release its next quarterly earnings between March 14 and March 18. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Palladyne AI Corp. (NASDAQ:STRC)’s Major holders
Palladyne AI Corp. insiders own 59.56% of total outstanding shares while institutional holders control 14.96%, with the float percentage being 36.99%. Steel Partners Holdings, LP is the largest shareholder of the company, while 48 institutions own stock in it. As of Jun 29, 2023, the company held over 0.63 million shares (or 2.43% of all shares), a total value of $0.2 million in shares.
The next largest institutional holding, with 0.62 million shares, is of Vanguard Group Inc’s that is approximately 2.39% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $0.2 million.
Also, the Mutual Funds coming in first place with the largest holdings of Palladyne AI Corp. (STRC) shares are BlackRock Global Allocation Fund and BlackRock Master Total Return Portfolio of Master Bond LLC. Data provided on Jul 30, 2023 indicates that BlackRock Global Allocation Fund owns about 0.62 million shares. This amounts to just over 2.41 percent of the company’s overall shares, with a $1.12 million market value. The same data shows that the other fund manager holds slightly less at 0.46 million, or about 1.80% of the stock, which is worth about $0.15 million.
