Velodyne Lidar, Inc. (NASDAQ:VLDR – Get Rating) insider David S. Hall sold 5,000,000 shares of the business’s stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $1.52, for a total value of $7,600,000.00. Following the completion of the sale, the insider now owns 13,153,225 shares in the company, valued at $19,992,902. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NASDAQ VLDR traded down $0.19 during mid-day trading on Thursday, hitting $1.48. The company had a trading volume of 3,323,293 shares, compared to its average volume of 5,503,388. The company has a market capitalization of $307.78 million, a price-to-earnings ratio of -1.30 and a beta of 1.02. Velodyne Lidar, Inc. has a 1 year low of $1.42 and a 1 year high of $11.91. The stock’s 50-day moving average price is $1.88 and its 200-day moving average price is $3.25.

Velodyne Lidar (NASDAQ:VLDR – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The company had revenue of $6.20 million during the quarter, compared to analysts’ expectations of $10.10 million. Velodyne Lidar had a negative net margin of 440.65% and a negative return on equity of 73.29%. Velodyne Lidar’s revenue for the quarter was down 65.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.20) earnings per share. As a group, research analysts forecast that Velodyne Lidar, Inc. will post -1.08 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the stock. Ensign Peak Advisors Inc purchased a new position in Velodyne Lidar during the fourth quarter worth about $32,000. Itau Unibanco Holding S.A. grew its position in Velodyne Lidar by 67.3% during the fourth quarter. Itau Unibanco Holding S.A. now owns 9,113 shares of the company’s stock worth $44,000 after buying an additional 3,667 shares in the last quarter. Private Advisor Group LLC purchased a new position in Velodyne Lidar during the fourth quarter worth about $46,000. Steward Partners Investment Advisory LLC grew its position in Velodyne Lidar by 33.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,270 shares of the company’s stock worth $48,000 after buying an additional 2,600 shares in the last quarter. Finally, Delphia USA Inc. purchased a new position in Velodyne Lidar during the first quarter worth about $29,000. Institutional investors and hedge funds own 29.17% of the company’s stock.

VLDR has been the topic of several research reports. Citigroup lowered their target price on Velodyne Lidar from $3.50 to $2.00 and set a “na” rating on the stock in a research note on Monday, May 16th. Needham & Company LLC lowered their target price on Velodyne Lidar from $7.50 to $5.90 and set a “buy” rating on the stock in a research note on Tuesday, March 1st. Craig Hallum lowered Velodyne Lidar from a “hold” rating to a “sell” rating and lowered their target price for the company from $3.50 to $2.50 in a research note on Tuesday, March 1st. Finally, Zacks Investment Research upgraded Velodyne Lidar from a “sell” rating to a “hold” rating in a research note on Wednesday, May 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Velodyne Lidar currently has a consensus rating of “Hold” and a consensus target price of $6.57.

About Velodyne Lidar (Get Rating)

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.

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