Velo3D (NYSE:VLD) Issues Earnings Results

Velo3D (NYSE:VLD) issued its quarterly earnings results on Tuesday. The company reported ($0.32) EPS for the quarter, Zacks reports. The business had revenue of $1.81 million for 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

Velo3D stock traded down $0.24 during trading hours on Wednesday, hitting $0.34. 4,368,596 shares of the stock were exchanged, compared to its average volume of 6,338,172. The business’s 50-day moving average is $0.32 and its two-hundred day moving average is $0.79. Velo3D has a 12 month low of $0.19 and a 12 month high of $2.50. The stock has a market capitalization of $68.31 million, a P/E ratio of -2.00 and a beta of 1.97.

Institutional Investors Weigh In On Velo3D

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC boosted its position in shares of Velo3D by 679.2% during the third quarter. FMR LLC now owns 16,332 shares of the company’s stock worth $25,000 after purchasing an additional 14,236 shares in the last quarter. Aspen Grove Capital LLC bought a new position in Velo3D in the fourth quarter valued at approximately $25,000. ProShare Advisors LLC bought a new position in shares of Velo3D in the 2nd quarter valued at about $25,000. Centiva Capital LP acquired a new position in Velo3D during the fourth quarter worth approximately $26,000. Finally, ExodusPoint Capital Management LP bought a new position in shares of Velo3D in the fourth quarter valued at about $26,000. 87.50% of the stock is owned by institutional investors and hedge funds.

Velo3D Company Profile

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.