Velodyne Lidar Inc. [VLDR] Stock trading around $0.89 per share: What’s Next?

Velodyne Lidar Inc. [NASDAQ: VLDR] stock went on an upward path that rose over 1.01% on Thursday, amounting to a one-week price decrease of less than -11.76%. The company report on October 11, 2022 that Velodyne Lidar Signs Multi-Year Agreement with Yamaha Motor.

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Lidar-Powered Goods Transport to Advance Factory Logistics.

Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced a multi-year agreement to provide its lidar sensors to Yamaha Motor for eve autonomy, a joint venture between Yamaha Motor and Tier IV, Inc. eve autonomy’s autonomous goods transport service eve auto provides logistical support for factories to improve efficiency and safety. Velodyne has already begun shipping sensors to Yamaha Motor to support an October 2022 launch of eve auto.

Over the last 12 months, VLDR stock dropped by -86.03%. The one-year Velodyne Lidar Inc. stock forecast points to a potential upside of 76.82. The average equity rating for VLDR stock is currently 2.80, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $216.12 million, with 198.95 million shares outstanding and 170.01 million shares in the current float. Compared to the average trading volume of 5.25M shares, VLDR stock reached a trading volume of 2935688 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $3.84 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 2.80. 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.

JP Morgan have made an estimate for Velodyne Lidar Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on September 20, 2022. While these analysts kept the previous recommendation, Craig Hallum dropped their target price from $3.50 to $2.50. The new note on the price target was released on March 01, 2022, representing the official price target for Velodyne Lidar Inc. stock. Previously, the target price had yet another drop from $17 to $8, while Citigroup kept a Neutral rating on VLDR stock. On July 20, 2021, analysts decreased their price target for VLDR shares from 18 to 10.

The Average True Range (ATR) for Velodyne Lidar Inc. is set at 0.07, with the Price to Sales ratio for VLDR stock in the period of the last 12 months amounting to 4.47. The Price to Book ratio for the last quarter was 0.77, with the Price to Cash per share for the same quarter was set at 0.95.

VLDR Stock Performance Analysis:

Velodyne Lidar Inc. [VLDR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.76. With this latest performance, VLDR shares dropped by -26.95% in over the last four-week period, additionally sinking by -59.49% over the last 6 months – not to mention a drop of -86.03% 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 36.24, with the RSI for the last a single of trading hit 32.57, and the three-weeks RSI is set at 39.21 for Velodyne Lidar Inc. [VLDR]. The present Moving Average for the last 50 days of trading for this stock 1.1910, while it was recorded at 0.8935 for the last single week of trading, and 2.0827 for the last 200 days.

Insight into Velodyne Lidar Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Velodyne Lidar Inc. [VLDR] shares currently have an operating margin of -358.68 and a Gross Margin at -9.55. Velodyne Lidar Inc.’s Net Margin is presently recorded at -342.74.

Return on Equity for this stock declined to -66.31, with Return on Assets sitting at -52.53.

Velodyne Lidar Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.50 and a Current Ratio set at 5.80.

Velodyne Lidar Inc. [VLDR] Insider Position Details

There are presently around $60 million, or 31.30% of VLDR stock, in the hands of institutional investors. The top three institutional holders of VLDR stocks are: BLACKROCK INC. with ownership of 11,894,413, which is approximately 102.537% of the company’s market cap and around 5.50% of the total institutional ownership; VANGUARD GROUP INC, holding 9,675,939 shares of the stock with an approximate value of $8.62 million in VLDR stocks shares; and STATE STREET CORP, currently with $4.43 million in VLDR stock with ownership of nearly 63.355% of the company’s market capitalization.

Positions in Velodyne Lidar Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 84 institutional holders increased their position in Velodyne Lidar Inc. [NASDAQ:VLDR] by around 18,536,122 shares. Additionally, 69 investors decreased positions by around 10,050,517 shares, while 26 investors held positions by with 38,315,759 shares. The mentioned changes placed institutional holdings at 66,902,398 shares, according to the latest SEC report filing. VLDR stock had 29 new institutional investments in for a total of 1,688,656 shares, while 32 institutional investors sold positions of 1,788,604 shares during the same period.


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