Ergoteles LLC Takes $124,000 Position in Velo3D, Inc. (NYSE:VLD)

Ergoteles LLC bought a new stake in Velo3D, Inc. (NYSE:VLD – Get Rating) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 31,500 shares of the company’s stock, valued at approximately $124,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ARK Investment Management LLC lifted its stake in Velo3D by 2.9% in the 3rd quarter. ARK Investment Management LLC now owns 11,042,242 shares of the company’s stock valued at $43,506,000 after purchasing an additional 311,860 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Velo3D by 29.7% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,615,090 shares of the company’s stock worth $14,243,000 after buying an additional 827,090 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Velo3D by 2.6% during the first quarter. Vanguard Group Inc. now owns 3,485,691 shares of the company’s stock worth $32,452,000 after buying an additional 86,867 shares in the last quarter. State Street Corp increased its holdings in shares of Velo3D by 322.1% during the second quarter. State Street Corp now owns 855,749 shares of the company’s stock worth $1,181,000 after buying an additional 653,003 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC increased its holdings in shares of Velo3D by 151.8% during the third quarter. Taylor Frigon Capital Management LLC now owns 673,534 shares of the company’s stock worth $2,654,000 after buying an additional 406,095 shares in the last quarter. 66.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VLD. Needham & Company LLC lowered their price target on shares of Velo3D from $6.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, November 9th. William Blair reiterated an “outperform” rating on shares of Velo3D in a report on Wednesday, November 9th. Finally, Credit Suisse Group lowered their price target on shares of Velo3D from $4.80 to $3.70 and set a “neutral” rating for the company in a report on Wednesday, November 9th.

Velo3D Stock Performance

NYSE VLD opened at $3.06 on Wednesday. The company has a market capitalization of $570.45 million, a price-to-earnings ratio of -101.97 and a beta of 2.98. Velo3D, Inc. has a twelve month low of $1.28 and a twelve month high of $10.90. The stock has a fifty day simple moving average of $2.58 and a 200 day simple moving average of $3.03. The company has a quick ratio of 2.28, a current ratio of 3.40 and a debt-to-equity ratio of 0.04.

About Velo3D

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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.