Velodyne Lidar (NASDAQ:VLDR) Shares Down 3.6%


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Shares of Velodyne Lidar, Inc. (NASDAQ:VLDR) dropped 3.6% during trading on Thursday . The stock traded as low as $13.50 and last traded at $13.51. Approximately 8,083 shares traded 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 several research reports. The Goldman Sachs Group initiated coverage on shares of Velodyne Lidar in a research report on Sunday. They set a “neutral” rating and a $13.00 price objective for the company. Bank of America started coverage on shares of Velodyne Lidar in a research report on Tuesday. They set an “underperform” rating for the company. Smith Barney Citigroup started coverage on shares of Velodyne Lidar in a research note on Wednesday, January 6th. They issued a “buy” rating and a $31.00 target price on the stock. Berenberg Bank reissued a “hold” rating and issued a $16.00 target price on shares of Velodyne Lidar in a research note on Thursday, March 18th. Finally, Zacks Investment Research downgraded shares of Velodyne Lidar from a “hold” rating to a “sell” rating in a research note on Tuesday, January 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $22.78.

The company’s 50 day moving average is $13.22 and its 200 day moving average is $17.54.

Velodyne Lidar (NASDAQ:VLDR) last posted its earnings results on Thursday, February 25th. The company reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.13. The business had revenue of $17.85 million for the quarter, compared to analysts’ expectations of $15.78 million. On average, analysts predict that Velodyne Lidar, Inc. will post -1.49 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the company. Zweig DiMenna Associates LLC acquired a new stake in Velodyne Lidar in the 4th quarter worth approximately $3,161,000. Sowell Financial Services LLC acquired a new stake in Velodyne Lidar during the 4th quarter worth $44,000. TCI Wealth Advisors Inc. acquired a new position in Velodyne Lidar in the fourth quarter valued at about $26,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Velodyne Lidar during the fourth quarter worth about $52,000. Finally, Virtu Financial LLC purchased a new position in Velodyne Lidar in the fourth quarter valued at approximately $911,000. Institutional investors and hedge funds own 6.98% of the company’s stock.

About Velodyne Lidar (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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