Velo3D, Inc. (NYSE:VLD – Get Rating)'s share price was up 5.1% during mid-day trading on Friday . The stock traded as high as $2.92 and last traded at $2.91. Approximately 718,298 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 1,275,796 shares. The stock had previously closed at $2.77.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on VLD shares. Needham & Company LLC reduced their target price on Velo3D from $6.00 to $4.00 and set a "buy" rating on the stock in a report on Wednesday, November 9th. William Blair reaffirmed an "outperform" rating on shares of Velo3D in a research report on Wednesday, November 9th. Finally, Credit Suisse Group reduced their target price on Velo3D from $4.80 to $3.70 and set a "neutral" rating for the company in a research note on Wednesday, November 9th.
Get Velo3D alerts:Velo3D Trading Up 6.5 %
The company has a current ratio of 3.40, a quick ratio of 2.28 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $549.94 million, a P/E ratio of -13.41 and a beta of 3.16. The business has a 50-day moving average price of $1.99 and a two-hundred day moving average price of $3.15.
Velo3D (NYSE:VLD – Get Rating) last posted its quarterly earnings results on Tuesday, November 8th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.02). Velo3D had a negative return on equity of 78.43% and a negative net margin of 44.01%. The business had revenue of $19.12 million for the quarter, compared to analyst estimates of $25.63 million. On average, analysts expect that Velo3D, Inc. will post -0.46 EPS for the current fiscal year.Insider Transactions at Velo3D
In other news, CFO William D. Mccombe sold 14,470 shares of the business's stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $2.61, for a total transaction of $37,766.70. Following the completion of the transaction, the chief financial officer now owns 125,270 shares of the company's stock, valued at approximately $326,954.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Velo3D news, CFO William D. Mccombe sold 14,470 shares of the company's stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $2.61, for a total value of $37,766.70. Following the completion of the transaction, the chief financial officer now owns 125,270 shares of the company's stock, valued at approximately $326,954.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Benyamin Buller sold 32,198 shares of the company's stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $2.61, for a total value of $84,036.78. Following the completion of the transaction, the chief executive officer now directly owns 4,975,845 shares of the company's stock, valued at approximately $12,986,955.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,283 shares of company stock valued at $154,729. Corporate insiders own 5.20% of the company's stock.
Institutional Investors Weigh In On Velo3D
Institutional investors and hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Velo3D by 13.5% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,103,720 shares of the company's stock worth $7,346,000 after acquiring an additional 488,630 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Velo3D in the fourth quarter worth $185,000. Bank of New York Mellon Corp boosted its stake in Velo3D by 32.6% during the third quarter. Bank of New York Mellon Corp now owns 180,273 shares of the company's stock valued at $711,000 after buying an additional 44,338 shares during the period. Dash Acquisitions Inc. bought a new stake in Velo3D during the third quarter valued at $69,000. Finally, California State Teachers Retirement System boosted its stake in Velo3D by 8.9% during the third quarter. California State Teachers Retirement System now owns 76,066 shares of the company's stock valued at $300,000 after buying an additional 6,190 shares during the period. Institutional investors and hedge funds own 66.75% of the company's stock.
Velo3D Company Profile
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Velo3D, Inc produces metal additive three dimensional printers in the United States and internationally. The company's printers enable the production of components for space rockets, jet engines, fuel delivery systems, and other high value metal parts, which it sells or leases to customers for use in their businesses.
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