David S. Hall Sells 5,000,000 Shares of Velodyne Lidar, Inc. (NASDAQ:VLDR) Stock

Posted by on Jun 10th, 2022

Velodyne Lidar, Inc. (NASDAQ:VLDR – Get Rating) insider David S. Hall sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $1.52, for a total value of $7,600,000.00. Following the sale, the insider now directly owns 13,153,225 shares of the company’s stock, valued at approximately $19,992,902. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NASDAQ:VLDR traded down $0.19 during mid-day trading on Thursday, hitting $1.48. 3,323,293 shares of the company traded hands, compared to its average volume of 5,503,388. The stock has a market cap of $307.78 million, a P/E ratio of -1.30 and a beta of 1.02. Velodyne Lidar, Inc. has a 12-month low of $1.42 and a 12-month high of $11.91. The stock has a 50-day moving average price of $1.88 and a two-hundred day moving average price of $3.25.

Velodyne Lidar (NASDAQ:VLDR – Get Rating) last announced its earnings results on Thursday, May 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The company had revenue of $6.20 million for the quarter, compared to analysts’ expectations of $10.10 million. Velodyne Lidar had a negative net margin of 440.65% and a negative return on equity of 73.29%. The firm’s quarterly revenue was down 65.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.20) EPS. As a group, research analysts forecast that Velodyne Lidar, Inc. will post -1.08 earnings per share for the current year.

VLDR has been the subject of several recent analyst reports. Needham & Company LLC decreased their target price on Velodyne Lidar from $7.50 to $5.90 and set a “buy” rating for the company in a research note on Tuesday, March 1st. Craig Hallum cut Velodyne Lidar from a “hold” rating to a “sell” rating and reduced their price objective for the company from $3.50 to $2.50 in a research note on Tuesday, March 1st. Citigroup reduced their price objective on Velodyne Lidar from $3.50 to $2.00 and set a “na” rating for the company in a research note on Monday, May 16th. Finally, Zacks Investment Research raised Velodyne Lidar from a “sell” rating to a “hold” rating in a research note on Wednesday, May 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Velodyne Lidar has an average rating of “Hold” and an average target price of $6.57.

Large investors have recently made changes to their positions in the stock. Delphia USA Inc. purchased a new position in shares of Velodyne Lidar during the first quarter valued at approximately $29,000. Ensign Peak Advisors Inc bought a new stake in Velodyne Lidar during the fourth quarter worth $32,000. QCM Cayman Ltd. bought a new stake in Velodyne Lidar during the first quarter worth $36,000. Itau Unibanco Holding S.A. lifted its holdings in Velodyne Lidar by 67.3% during the fourth quarter. Itau Unibanco Holding S.A. now owns 9,113 shares of the company’s stock worth $44,000 after acquiring an additional 3,667 shares during the period. Finally, Private Advisor Group LLC bought a new stake in Velodyne Lidar during the fourth quarter worth $46,000. 29.17% of the stock is currently owned by institutional investors.

About Velodyne Lidar (Get Rating)

Velodyne Lidar, Inc provides real-time 3D vision for autonomous systems worldwide. It offers surround-view lidar for autonomous vehicles, drones, security, mobile robots, and mapping applications; and solid state lidar for advanced driver assistance systems and autonomous applications. The company also provides Vella Development Kit that provides access to lidar-based perception software paired with sensors; Intelligent Infrastructure Solution for monitoring traffic networks and public spaces to generate real-time data analytics and predictions for enhancing traffic and crowd flow efficiency; and Vella software solution, a data curation software platform.

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