Velo3D (NYSE:VLD) Price Target Lowered to $6.00 at Needham & Company LLC

Velo3D (NYSE:VLDGet Rating) had its price objective dropped by investment analysts at Needham & Company LLC from $15.00 to $6.00 in a report released on Wednesday, The Fly reports. Needham & Company LLC’s target price suggests a potential upside of 118.98% from the stock’s current price.

A number of other equities research analysts have also issued reports on VLD. Zacks Investment Research lowered Velo3D from a “hold” rating to a “sell” rating in a research report on Tuesday, May 3rd. Bank of America lowered Velo3D from a “neutral” rating to an “underperform” rating and set a $7.00 price target on the stock. in a research report on Friday, March 4th.

VLD stock traded up $0.05 during mid-day trading on Wednesday, reaching $2.74. The company had a trading volume of 30,479 shares, compared to its average volume of 968,426. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.74 and a quick ratio of 5.26. The firm has a fifty day simple moving average of $6.40 and a 200 day simple moving average of $7.70. Velo3D has a fifty-two week low of $2.68 and a fifty-two week high of $13.18.

Velo3D (NYSE:VLDGet Rating) last posted its quarterly earnings results on Wednesday, March 2nd. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The business had revenue of $10.41 million during the quarter, compared to the consensus estimate of $8.68 million. Analysts anticipate that Velo3D will post -0.35 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Holdings Inc. acquired a new stake in shares of Velo3D during the 3rd quarter worth about $29,000. Morgan Stanley acquired a new stake in shares of Velo3D during the 3rd quarter worth about $61,000. Penserra Capital Management LLC acquired a new stake in shares of Velo3D during the 3rd quarter worth about $79,000. Levin Capital Strategies L.P. acquired a new stake in shares of Velo3D during the 3rd quarter worth about $84,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Velo3D during the 3rd quarter worth about $103,000. 56.38% of the stock is currently owned by institutional investors and hedge funds.

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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