A company insider recently sold 6,720 shares of Velodyne Lidar Inc. [VLDR]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Velodyne Lidar Inc. shares valued at $8,266 were sold by Rekow Mathew on Sep 15. At $1.23 per share, Rekow Mathew sold 6,720 shares. The insider’s holdings dropped to 1,054,291 shares worth approximately $1.09 million following the completion of this transaction.

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Also, Tarman Laura sold 2,471 shares, netting a total of over 3,039 in proceeds. Following the sale of shares at $1.23 each, the insider now holds 517,391 shares.

Before that, Frykman Sally had sold 407 shares from its account. In a trade valued at $501, the Chief Marketing Officer traded Velodyne Lidar Inc. shares for $1.23 each. Upon closing the transaction, the insider’s holdings decreased to 407 shares, worth approximately $0.45 million.

As published in their initiating research note from JP Morgan on September 20, 2022, Velodyne Lidar Inc. [VLDR] has been an Underweight. Analysts at Craig Hallum downgraded the stock from ‘”a Hold”‘ to ‘”a Sell”‘ outlook in a report released in early March. As of November 09, 2021, Citigroup has decreased its “Buy” rating to a “Neutral” for VLDR. Earlier on July 20, 2021, Robert W. Baird downgraded its rating. Their new recommendation was “a Neutral” for VLDR stock which previously was a “an Outperform”.

Analyzing VLDR’s Price Performance

On Wednesday, Velodyne Lidar Inc. [NASDAQ: VLDR] plunged -2.83% to $1.03. The stock’s lowest price that day was $1.02, but it reached a high of $1.07 in the same session. During the last five days, there has been a drop of approximately -15.57%. Over the course of the year, Velodyne Lidar Inc. shares have dropped approximately -77.80%. Shares of the company reached a 52-week high of $4.9950 on 01/03/22 and a 52-week low of $0.8250 on 07/01/22. A 50-day SMA is recorded $1.2184, while a 200-day SMA reached $2.4211. Nevertheless, trading volume fell to 2.71 million shares from 3.83 million shares the previous day.

Support And Resistance Levels for Velodyne Lidar Inc. (VLDR)

According to the 24-hour chart, there is a support level at 1.0100, which, if violated, would cause prices to drop to 0.9900. In the upper region, resistance lies at 1.0600. The next price resistance is at 1.0900. RSI (Relative Strength Index) is 38.98 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0907, which suggests the price will decrease in the coming days. Percent R is at 96.30%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Velodyne Lidar Inc. subject to short interest?

Stocks of Velodyne Lidar Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 2.36 million shares to 14.27 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 11.91 million shares. A jump of 16.54% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.56 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.56.

Which companies own the most shares of Velodyne Lidar Inc. (VLDR)?

According to BlackRock Fund Advisors filings, the company currently owns 10,393,265 shares, which is about 4.73% of the total VLDR shares outstanding. The investor’s shares have appreciated by 5,503,724 from its previous 13-F filing of 4889541.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $11,801,550. SSgA Funds Management, Inc. acquire a 63.36% interest valued at $6.21 million while Two Sigma Investments LP purchased a 196,090 stake. A total of 314,500 shares of Velodyne Lidar Inc. were bought by Two Sigma Advisers LP during the quarter, and -267,131 were sold by Global X Management Co. LLC. In its current portfolio, Geode Capital Management LLC holds 2,779,163 shares valued at $3.47 million.

In terms of Velodyne Lidar Inc. share price expectations, FactSet research, analysts set an average price target of $4.55 in the next 12 months, up nearly 121.7% from the previous closing price of $1.06. Analysts anticipate Velodyne Lidar Inc. stock to reach $12.00 by 2022, with the lowest price target being $1.50. In spite of this, 5 analysts ranked Velodyne Lidar Inc. stock as a Hold at the end of 2022.


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