Velo3D Inc (NYSE:VLD) shares, rose in value, with the stock price up by 3.84% to the previous day’s close as strong demand from buyers drove the stock to $0.58.
Actively observing the price movement in the last trading, the stock closed the session at $0.56. The value of beta (5-year monthly) was 1.98. Referring to stock’s 52-week performance, its high was $2.50, and the low was $0.19. On the whole, VLD has fluctuated by 122.80% over the past month.
As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.08, which is expected to increase to -$0.05 for fiscal year -$0.51 and then to about -$0.31 by fiscal year 2024. Data indicates that the EPS growth is expected to be -24.40% in 2024, while the next year’s EPS growth is forecast to be 39.20%.
Analysts have estimated the company’s revenue for the quarter at $1.81 million, with a low estimate of $19.5 million and a high estimate of $19.5 million. According to the average forecast, sales growth in current quarter could jump down -93.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $77.56 million, representing a decrease of -4.00% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that VLD’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of VLD currently trading nearly 36.32% and 74.42% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 65.03, while the 7-day volatility ratio is showing 26.11% which for the 30-day chart, stands at 19.73%. Furthermore, Velo3D Inc (VLD)’s beta value is 2.07, and its average true range (ATR) is 0.09.
A comparison of Velo3D Inc (VLD) with its peers suggests the former has fared considerably weaker in the market. VLD showed an intraday change of 3.84% in last session, and over the past year, it shrunk by -74.52%%.
Data on historical trading for Velo3D Inc (NYSE:VLD) indicates that the trading volumes over the past 10 days have averaged 10.63 million and over the past 3 months, they’ve averaged 6.65 million. According to company’s latest data on outstanding shares, there are 258.42 million shares outstanding.
Nearly 46.18% of Velo3D Inc’s shares belong to company insiders and institutional investors own 36.61% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 32.24 million shares as on Mar 15, 2024, resulting in a short ratio of 5.05. According to the data, the short interest in Velo3D Inc (VLD) stood at 12.48% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 22.19 million. The stock has risen by 45.47% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the VLD stock heading into the next quarter.
