Market Analysts see Velodyne Lidar Inc. [VLDR] gaining to $23. Time to buy?

Velodyne Lidar Inc. [NASDAQ: VLDR] loss -4.02% on the last trading session, reaching $15.52 price per share at the time. The company report on November 23, 2020 that Velodyne Lidar Inc. to Participate in Credit Suisse 8th Annual Global Industrials Conference.

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Velodyne Lidar, Inc. (NASDAQ: VLDR, VLDRW), the first public pure-play lidar company, announces attendance at the Credit Suisse 8th Annual Global Industrials Conference on Thursday, December 3, 2020. Velodyne’s Chief Executive Officer, Dr. Anand Gopalan, and Chief Financial Officer, Drew Hamer, will participate in a fireside chat at 2:30 p.m. EST. A live and archived audio webcast of the presentation will be accessible on Velodyne’s investor relations website at investors.velodynelidar.com.

About Velodyne Lidar, Inc.

Velodyne Lidar Inc. represents 140.49 million in outstanding shares, while the company has a total market value of $2.60 billion with the latest information. VLDR stock price has been found in the range of $15.235 to $16.04.

If compared to the average trading volume of 2.19M shares, VLDR reached a trading volume of 2287624 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Velodyne Lidar Inc. [VLDR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VLDR shares is $24.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VLDR stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Craig Hallum have made an estimate for Velodyne Lidar Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 23, 2020. While these analysts kept the previous recommendation, Oppenheimer raised their target price to Outperform. The new note on the price target was released on October 15, 2020, representing the official price target for Velodyne Lidar Inc. stock.

The Average True Range (ATR) for Velodyne Lidar Inc. is set at 1.18, with the Price to Sales ratio for VLDR stock in the period of the last 12 months amounting to 33.58. The Price to Book ratio for the last quarter was 7.65, with the Price to Cash per share for the same quarter was set at 1.78.

Trading performance analysis for VLDR stock

Velodyne Lidar Inc. [VLDR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.39. With this latest performance, VLDR shares gained by 11.17% in over the last four-week period, additionally plugging by 48.66% over the last 6 months – not to mention a rise of 53.97% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VLDR stock in for the last two-week period is set at 46.73, with the RSI for the last a single of trading hit 52.71, and the three-weeks RSI is set at 49.00 for Velodyne Lidar Inc. [VLDR]. The present Moving Average for the last 50 days of trading for this stock 16.57, while it was recorded at 16.21 for the last single week of trading, and 14.38 for the last 200 days.

Velodyne Lidar Inc. [VLDR]: A deeper dive into fundamental analysis

Velodyne Lidar Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.60 and a Current Ratio set at 5.90.

An analysis of insider ownership at Velodyne Lidar Inc. [VLDR]

There are presently around $206 million, or 8.30% of VLDR stock, in the hands of institutional investors. The top three institutional holders of VLDR stocks are: HUDSON BAY CAPITAL MANAGEMENT LP with ownership of 3,000,001, which is approximately New of the company’s market cap and around 49.20% of the total institutional ownership; OXFORD ASSET MANAGEMENT LLP, holding 1,510,000 shares of the stock with an approximate value of $23.43 million in VLDR stocks shares; and CVI HOLDINGS, LLC, currently with $23.28 million in VLDR stock with ownership of nearly New of the company’s market capitalization.

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42 institutional holders increased their position in Velodyne Lidar Inc. [NASDAQ:VLDR] by around 10,523,937 shares. Additionally, 21 investors decreased positions by around 9,155,578 shares, while 0 investors held positions by with 6,392,017 shares. The mentioned changes placed institutional holdings at 13,287,498 shares, according to the latest SEC report filing. VLDR stock had 37 new institutional investments in for a total of 9,055,925 shares, while 16 institutional investors sold positions of 2,955,615 shares during the same period.

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