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Stock impact report

Palladyne AI Corp (PDYN) On the Cusp of Robust Growth Following Defense Division Formation [Yahoo! Finance]

Palladyne AI Corp. - Common stock (PDYN) 
Company Research Source: Yahoo! Finance
Analysts have an average price target of $9.50, implying 84.47% upside potential. On November 17, the company announced the formation of Palladyne Defense to conduct multiple acquisitions. The company acquired GuideTech LLC, Warnke Precision Machining, and MKR Fabricators for approximately $31 million. The acquisitions come as the AI software developer seeks to become an integrated defense technology company focused on providing avionics, components, and software, along with design and engineering services. Additionally, the acquisitions will unite the company's patented embodied AI with UAV and loitering munitions components. They will also deliver revenue-generating assets while supporting the company's push to support the Department of War's modernization priorities. The acquisitions are expected to bolster Palladyne AI's revenue base, which could triple to $7.8 million by 2026, up from $7.8 million in 2024. The acquisitions already come with an 18-month backlog of more tha Show less Read more
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