Velo3D (NYSE:VLD) Announces Quarterly Earnings Results

Velo3D (NYSE:VLD) posted its earnings results on Tuesday. The company reported ($0.32) earnings per share for the quarter, Zacks reports. The firm had revenue of $1.81 million during the quarter. Velo3D had a negative return on equity of 70.70% and a negative net margin of 50.99%. Velo3D updated its FY 2024 guidance to EPS.

Velo3D Stock Performance

VLD opened at $0.38 on Wednesday. The firm’s fifty day moving average is $0.32 and its two-hundred day moving average is $0.79. The firm has a market cap of $76.30 million, a PE ratio of -2.00 and a beta of 1.97. Velo3D has a twelve month low of $0.19 and a twelve month high of $2.50.

Institutional Investors Weigh In On Velo3D

Several hedge funds have recently bought and sold shares of VLD. BlackRock Inc. raised its holdings in Velo3D by 48.3% in the second quarter. BlackRock Inc. now owns 5,512,025 shares of the company’s stock worth $11,906,000 after purchasing an additional 1,796,272 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Velo3D by 77.3% during the second quarter. Wells Fargo & Company MN now owns 1,524,066 shares of the company’s stock worth $3,292,000 after acquiring an additional 664,267 shares during the period. State Street Corp raised 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 acquiring an additional 653,003 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Velo3D during the fourth quarter worth $1,126,000. Finally, Northern Trust Corp raised its holdings in shares of Velo3D by 372.3% during the second quarter. Northern Trust Corp now owns 494,661 shares of the company’s stock worth $683,000 after acquiring an additional 389,928 shares during the period. 87.50% of the stock is currently owned by institutional investors and hedge funds.

About Velo3D

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.