Walleye Capital LLC Takes Position in Velodyne Lidar, Inc. (NASDAQ:VLDR)

Walleye Capital LLC acquired a new stake in Velodyne Lidar, Inc. (NASDAQ:VLDRGet Rating) during the first quarter, Holdings Channel reports. The institutional investor acquired 302,071 shares of the company’s stock, valued at approximately $773,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Virtu Financial LLC increased its holdings in Velodyne Lidar by 327.0% during the first quarter. Virtu Financial LLC now owns 109,062 shares of the company’s stock worth $279,000 after buying an additional 83,518 shares during the last quarter. Point72 Hong Kong Ltd increased its holdings in shares of Velodyne Lidar by 654.1% in the first quarter. Point72 Hong Kong Ltd now owns 19,357 shares of the company’s stock valued at $50,000 after purchasing an additional 16,790 shares during the last quarter. Delphia USA Inc. acquired a new position in shares of Velodyne Lidar in the first quarter valued at $29,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Velodyne Lidar in the first quarter valued at $581,000. Finally, State Street Corp increased its holdings in shares of Velodyne Lidar by 8.2% in the first quarter. State Street Corp now owns 3,041,266 shares of the company’s stock valued at $7,786,000 after purchasing an additional 229,672 shares during the last quarter. 39.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Craig Hallum decreased their price objective on shares of Velodyne Lidar to $1.00 in a report on Monday, August 15th. JPMorgan Chase & Co. assumed coverage on shares of Velodyne Lidar in a report on Tuesday. They issued an “underweight” rating on the stock. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $3.98.

Velodyne Lidar Stock Performance

VLDR stock opened at $1.06 on Wednesday. The company’s 50-day simple moving average is $1.22 and its 200 day simple moving average is $1.60. Velodyne Lidar, Inc. has a 52 week low of $0.83 and a 52 week high of $7.83. The company has a market capitalization of $232.90 million, a PE ratio of -1.13 and a beta of 1.16.

Velodyne Lidar (NASDAQ:VLDRGet Rating) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.18. Velodyne Lidar had a negative net margin of 384.36% and a negative return on equity of 65.56%. The business had revenue of $11.50 million during the quarter, compared to analysts’ expectations of $11.43 million. During the same quarter in the prior year, the business posted ($0.46) earnings per share. Velodyne Lidar’s revenue was down 15.4% compared to the same quarter last year. On average, analysts forecast that Velodyne Lidar, Inc. will post -1.08 EPS for the current year.

Insider Buying and Selling

In related news, Director Marta R. Thoma sold 5,435,865 shares of the company’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $0.82, for a total transaction of $4,457,409.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Marta R. Thoma sold 5,435,865 shares of the stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $0.82, for a total value of $4,457,409.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David S. Hall sold 462,806 shares of the stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $1.17, for a total transaction of $541,483.02. Following the completion of the transaction, the insider now directly owns 6,510,160 shares of the company’s stock, valued at approximately $7,616,887.20. The disclosure for this sale can be found here. Insiders sold 10,456,841 shares of company stock valued at $9,354,674 over the last quarter. 5.40% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for Velodyne Lidar (NASDAQ:VLDR)

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