Velo3D (NYSE:VLD) Cut to Sell at Zacks Investment Research

Velo3D (NYSE:VLDGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, 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 downgraded shares of Velo3D from a “neutral” rating to an “underperform” rating and set a $7.00 price objective for the company. in a research report on Friday, March 4th.

NYSE:VLD traded down $0.14 on Tuesday, reaching $3.44. 21,006 shares of the stock traded hands, compared to its average volume of 1,692,387. The firm has a 50 day moving average of $6.95. 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 has a 1-year low of $3.42 and a 1-year high of $13.18.

Velo3D (NYSE:VLDGet Rating) last announced its quarterly earnings data on Wednesday, March 2nd. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $10.41 million for the quarter, compared to the consensus estimate of $8.68 million. Research analysts predict that Velo3D will post -0.35 EPS for the current year.

Institutional investors have recently made changes to their positions in the stock. Advisor Group Holdings Inc. bought a new stake in Velo3D in the 3rd quarter valued at about $29,000. Morgan Stanley purchased a new position in Velo3D during the 3rd quarter valued at about $61,000. Penserra Capital Management LLC purchased a new position in Velo3D during the 3rd quarter valued at about $79,000. Levin Capital Strategies L.P. purchased a new position in Velo3D during the 3rd quarter valued at about $84,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Velo3D during the 3rd quarter valued at about $103,000. Institutional investors and hedge funds own 56.38% of the company’s stock.

Velo3D Company Profile (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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