Velodyne Lidar (VLDR) to Release Quarterly Earnings on Monday

Velodyne Lidar (NASDAQ:VLDR – Get Rating) will be issuing its quarterly earnings data after the market closes on Monday, August 8th. Analysts expect the company to announce earnings of ($0.36) per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Velodyne Lidar (NASDAQ:VLDR – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). Velodyne Lidar had a negative net margin of 440.65% and a negative return on equity of 73.29%. The company had revenue of $6.20 million during the quarter, compared to analyst estimates of $10.10 million. During the same period in the prior year, the business posted ($0.20) EPS. Velodyne Lidar’s revenue was down 65.0% compared to the same quarter last year. On average, analysts expect Velodyne Lidar to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Velodyne Lidar Stock Performance

Velodyne Lidar stock opened at $1.24 on Friday. The company’s fifty day moving average price is $1.20 and its 200 day moving average price is $2.15. Velodyne Lidar has a 1 year low of $0.83 and a 1 year high of $8.50. The stock has a market capitalization of $257.87 million, a P/E ratio of -1.09 and a beta of 1.27.

Wall Street Analyst Weigh In

Separately, Citigroup decreased their price objective on Velodyne Lidar from $3.50 to $2.00 and set a “na” rating on the stock in a report on Monday, May 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $5.48.

Insider Buying and Selling at Velodyne Lidar

In other Velodyne Lidar news, CTO Mathew Rekow sold 17,179 shares of the firm’s stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $1.58, for a total value of $27,142.82. Following the transaction, the chief technology officer now owns 1,063,237 shares in the company, valued at approximately $1,679,914.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO Mathew Rekow sold 17,179 shares of Velodyne Lidar stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $1.58, for a total transaction of $27,142.82. Following the transaction, the chief technology officer now owns 1,063,237 shares in the company, valued at approximately $1,679,914.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David S. Hall sold 5,000,000 shares of Velodyne Lidar stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $1.52, for a total value of $7,600,000.00. Following the transaction, the insider now owns 13,153,225 shares in the company, valued at approximately $19,992,902. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,818,421 shares of company stock worth $21,225,606. Corporate insiders own 13.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Delphia USA Inc. purchased a new position in shares of Velodyne Lidar during the 1st quarter worth $29,000. Point72 Hong Kong Ltd increased its position in shares of Velodyne Lidar by 654.1% during the 1st quarter. Point72 Hong Kong Ltd now owns 19,357 shares of the company’s stock worth $50,000 after purchasing an additional 16,790 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Velodyne Lidar during the 1st quarter worth about $56,000. Cambridge Investment Research Advisors Inc. increased its position in shares of Velodyne Lidar by 76.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 22,096 shares of the company’s stock worth $57,000 after purchasing an additional 9,558 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Velodyne Lidar during the 1st quarter worth about $64,000. Hedge funds and other institutional investors own 29.17% of the company’s stock.

About Velodyne Lidar

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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.