Velodyne Lidar (NASDAQ:VLDR) Stock Price Down 3.6%


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Shares of Velodyne Lidar, Inc. (NASDAQ:VLDR) dropped 3.6% during mid-day trading on Thursday . The company traded as low as $13.50 and last traded at $13.51. Approximately 8,083 shares changed hands during trading, a decline of 100% from the average daily volume of 5,029,050 shares. The stock had previously closed at $14.01.

VLDR has been the subject of a number of analyst reports. Zacks Investment Research lowered Velodyne Lidar from a “hold” rating to a “sell” rating in a research report on Tuesday, January 5th. The Goldman Sachs Group began coverage on Velodyne Lidar in a research report on Sunday. They set a “neutral” rating and a $13.00 target price on the stock. Bank of America assumed coverage on Velodyne Lidar in a research report on Tuesday. They set an “underperform” rating on the stock. Smith Barney Citigroup began coverage on Velodyne Lidar in a research report on Wednesday, January 6th. They issued a “buy” rating and a $31.00 target price on the stock. Finally, Berenberg Bank reiterated a “hold” rating and set a $16.00 price target on shares of Velodyne Lidar in a research note on Thursday, March 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Velodyne Lidar has an average rating of “Hold” and an average price target of $22.78.

The stock has a 50-day simple moving average of $13.22 and a 200 day simple moving average of $17.54.

Velodyne Lidar (NASDAQ:VLDR) last posted its quarterly earnings results on Thursday, February 25th. The company reported ($0.64) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.77) by $0.13. The company had revenue of $17.85 million during the quarter, compared to the consensus estimate of $15.78 million. As a group, equities analysts expect that Velodyne Lidar, Inc. will post -1.49 EPS for the current year.

A number of hedge funds have recently bought and sold shares of VLDR. BlackRock Inc. bought a new position in Velodyne Lidar during the fourth quarter worth about $15,384,000. ExodusPoint Capital Management LP lifted its holdings in Velodyne Lidar by 4,924.8% during the fourth quarter. ExodusPoint Capital Management LP now owns 494,893 shares of the company’s stock worth $11,293,000 after acquiring an additional 485,044 shares in the last quarter. Alliancebernstein L.P. bought a new position in Velodyne Lidar during the fourth quarter worth about $5,801,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Velodyne Lidar in the 4th quarter valued at about $4,199,000. Finally, Morgan Stanley raised its stake in shares of Velodyne Lidar by 621.7% in the 4th quarter. Morgan Stanley now owns 196,966 shares of the company’s stock valued at $4,495,000 after purchasing an additional 169,674 shares during the period. Hedge funds and other institutional investors own 6.98% of the company’s stock.

Velodyne Lidar Company Profile (NASDAQ:VLDR)

Velodyne Lidar, Inc develops and produces lidar sensors for use in industrial, 3D mapping, drones, and auto applications in North America, the Asia Pacific, Europe, the Middle East, and Africa. The company offers surround-view hybrid solid state, directional solid state, and dome lidars; and Vella, an advanced driver assistance systems (ADAS) software solution built around lidar.

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