ARK Investment Management LLC recently announced the acquisition of new stake in Velo3D Inc (NYSE:VLD). The institutional investor has increased its shareholding in the Technology company by 12.51% to 13.43 million shares with purchase of 1.49 million shares. This fresh investment now brings its stake to 6.62% valued currently at $13.01 million. In addition, Nikko Asset Management Americas, raised its holdings by 1.26 million to 7.08 million shares. And The Vanguard Group, Inc. has lifted its position by 0.95% or 59619.0 shares – to 6.34 million shares.
With over 10.67 million Velo3D Inc (VLD) shares trading Friday and a closing price of $0.40 on the day, the dollar volume was approximately $4.27 million. The shares have shown a negative half year performance of -81.59% and its price on 12/29/23 lost nearly -4.99%. Currently, there are 187.56M common shares owned by the public and among those 110.02M shares have been available to trade.
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Insiders at the company have transacted a total of 73 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 57 of these insider trades were purchases, accounting for 1,070,782 shares. Insider sales of the common stock occurred on 16 occasions, with total insider shares sold totaling 222,613 shares.
The top 3 mutual fund holders in Velo3D Inc are ARK Autonomous Technology & Robot, Vanguard Total Stock Market ETF, and ARK 3D Printing ETF. ARK Autonomous Technology & Robot owns 7.89 million shares of the company’s stock, all valued at over $7.64 million. The company sold 21370.0 shares recently to bring their total holdings to about 3.88% of the shares outstanding. ARK 3D Printing ETF now owns shares totaling to 1.61% of the shares outstanding.
Shares of Velo3D Inc (NYSE: VLD) opened at $0.435, up $0.02 from a prior closing price of $0.42. However, the script later moved the day high at 0.4350, down -4.99%. The company’s stock has a 5-day price change of -18.39% and -74.51% over the past three months. VLD shares are trading -77.79% year to date (YTD), with the 12-month market performance down to -74.35% lower. It has a 12-month low price of $0.41 and touched a high of $3.95 over the same period. VLD has an average intraday trading volume of 3.32 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -40.81%, -60.67%, and -76.15% respectively.
Institutional ownership of Velo3D Inc (NYSE: VLD) shares accounts for 21.34% of the company’s 187.56M shares outstanding. Mutual fund holders own 14.69%, while other institutional holders and individual stakeholders account for 8.34% and 14.69% respectively.
It has a market capitalization of $84.69M and a beta (3y monthly) value of 2.06. The earnings-per-share (ttm) stands at -$0.29. Price movements for the stock have been influenced by the stock’s volatility, which stands at 13.95% over the week and 13.77% over the month.
Analysts forecast that Velo3D Inc (VLD) will achieve an EPS of -$0.08 for the current quarter, -$0.05 for the next quarter and -$0.19 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.08 while analysts give the company a high EPS estimate of -$0.08. Comparatively, EPS for the current quarter was -$0.08 a year ago. Earnings per share for the fiscal year are expected to decrease by -13.82%, and 42.14% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Velo3D Inc (VLD) as a “Strong Buy” at a consensus score of 1.33. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the VLD, a number of firms have released research notes about the stock. Credit Suisse stated their Neutral rating for the stock in a research note on August 17, 2022, with the firm’s price target at $5.40.
