Velo3D Inc. (NYSE: VLD) stock jumped 11.33% on Friday to $2.26 against a previous-day closing price of $2.03. With 2.25 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.48 million shares. During the session, the Computer Hardware company that operates in wider Technology sector, reached to the highest price of $2.2600 whereas the lowest price it dropped to was $1.9900. The 52-week range on VLD shows that it touched its highest point at $10.90 and its lowest point at $1.28 during that stretch. It currently has a 1-year price target of $4.00.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of VLD was up-trending over the past week, with a rise of 10.78%, but this was up by 41.25% over a month. Three-month performance dropped to -37.05% while six-month performance fell -33.14%. The stock lost -57.91% in the past year, while it has gained 26.26% so far this year. A look at the trailing 12-month EPS for VLD yields -0.38 with Next year EPS estimates of -0.36. For the next quarter, that number is -0.12. This implies an EPS growth rate of 61.20% for this year and 23.40% for next year.
Float and Shares Shorts:
At present, 185.56 million VLD shares are outstanding with a float of 158.43 million shares on hand for trading. On Oct 13, 2022, short shares totaled 8.69 million, which was 4.70% higher than short shares on Sep 14, 2022. In addition to Mr. Benyamin Buller as the firm’s Founder, CEO & Director, Mr. William D. McCombe serves as its CFO & Director.
Through their ownership of 61.43% of VLD’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 9.22% of VLD, in contrast to 16.47% held by mutual funds. Shares owned by individuals account for 15.03%. As the largest shareholder in VLD with 5.92% of the stake, ARK Investment Management LLC holds 11,042,242 shares worth 11,042,242. A second-largest stockholder of VLD, BAMCO, Inc., holds 10,574,829 shares, controlling over 5.67% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in VLD, holding 9,064,710 shares or 4.86% stake. With a 3.37% stake in VLD, the ARK Autonomous Technology & Robot is the largest stakeholder. A total of 6,287,929 shares are owned by the mutual fund manager. The Baron Partners Fund, which owns about 3.35% of VLD stock, is the second-largest Mutual Fund holder. It holds 6,250,000 shares valued at 11.19 million. Vanguard Total Stock Market Index holds 2.50% of the stake in VLD, owning 4,652,256 shares worth 8.33 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for VLD since 4 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With VLD analysts setting a high price target of $4.30 and a low target of $3.70, the average target price over the next 12 months is $4.00. Based on these targets, VLD could surge 90.27% to reach the target high and rise by 63.72% to reach the target low. Reaching the average price target will result in a growth of 76.99% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. VLD will report FY 2022 earnings on 02/28/2024. Analysts have provided yearly estimates in a range of -$0.46 being high and -$0.90 being low. For VLD, this leads to a yearly average estimate of -$0.58. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Velo3D Inc. surprised analysts by -$0.01 when it reported -$0.12 EPS against a consensus estimate of -$0.11. The surprise factor in the prior quarter was $0.03. Based on analyst estimates, the high estimate for the next quarter is -$0.11 and the low estimate is -$0.15. The average estimate for the next quarter is thus -$0.12.
Summary of Insider Activity:
Insiders traded VLD stock several times over the past three months with 15 Buys and 4 Sells. In these transactions, 370,007 shares were bought while 59,283 shares were sold. The number of buy transactions has increased to 25 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 726,910 while 35,688,429 shares were sold.