Velo3D (NYSE:VLD) Raised to “Hold” at Zacks Investment Research

Velo3D (NYSE:VLDGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday, Zacks.com reports.

According to Zacks, “Velo3D is a metal 3D printing technology company. It provides end-to-end additive manufacturing solutions. The end-to-end solution includes the Flow(TM) print preparation software, the Sapphire(R)family of printers, and the Assure(TM) quality control system all of which are powered by Velo3D’s Intelligent Fusion(TM) manufacturing process. Velo3D is a metal 3D, formerly known as JAWS Spitfire Acquisition Corporation, is based in NEW YORK. “

Separately, Bank of America cut shares of Velo3D from a “neutral” rating to an “underperform” rating and set a $7.00 target price on the stock. in a research report on Friday, March 4th.

VLD stock opened at $5.19 on Friday. Velo3D has a one year low of $4.88 and a one year high of $13.18. The firm’s 50 day moving average price is $7.66. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.26 and a current ratio of 5.74.

Velo3D (NYSE:VLDGet Rating) last posted its earnings results on Wednesday, March 2nd. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Analysts forecast that Velo3D will post -0.35 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Deer Management Co. LLC purchased a new position in shares of Velo3D during the fourth quarter worth $295,720,000. VK Services LLC acquired a new position in Velo3D during the 3rd quarter worth about $260,409,000. TOMS Capital Investment Management LP acquired a new position in Velo3D during the 3rd quarter worth about $12,555,000. Bamco Inc. NY purchased a new position in Velo3D during the 3rd quarter valued at about $53,371,000. Finally, ARK Investment Management LLC grew its position in Velo3D by 59.0% in the 4th quarter. ARK Investment Management LLC now owns 6,292,430 shares of the company’s stock valued at $49,144,000 after acquiring an additional 2,334,504 shares in the last quarter.

About Velo3D (Get Rating)

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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