Velodyne Lidar stock has been dropping due to a combination of its poor earnings and some controversy within the company. The biggest issues are a claim by Criterion Technology that Velodyne stole trade secrets and issues with the company’s leadership.
What's happening with Velodyne Lidar stock?
Velodyne Lidar (NASDAQ: VLDR), a company that produces lidar sensors used in autonomous vehicles, has seen its stock decline by about 15% over the last week (five trading days). The stock also remains down by over 50% year-to-date.
Why has Velodyne stock declined 40% year-to-date?
Velodyne stock has declined by over 40% year-to-date, due to mixed fourth-quarter results and also due to some corporate governance-related issues. However, there have been some positive developments relating to the stock in recent weeks.
Where is Velodyne’s Ultra Puck lidar being used?
Velodyne’s Ultra Puck lidar sensor will be used in the new AGM-MS3 Unmanned Aerial Vehicles. Velodyne will also supply its 360-degree Puck lidar sensors for autonomous security robot company Knightscope’s future fifth-generation robots, expanding on its multi-year relationship with the company.
When is Velodyne Lidar's earnings conference call?
Velodyne Lidar will be holding an earnings conference call on Monday, February 28th at 4:30 PM Eastern. Interested parties can register for or listen to the call using this link or dial in at 877-344-7529 with passcode "5202757".
Is Velodyne Lidar a good stock to buy?
Out of 4 analysts, 0 (0%) are recommending VLDR as a Strong Buy, 1 (25%) are recommending VLDR as a Buy, 2 (50%) are recommending VLDR as a Hold, 1 (25%) are recommending VLDR as a Sell, and 0 (0%) are recommending VLDR as a Strong Sell. What is VLDR's earnings growth forecast for 2022-2024?
Why are lidar stocks dropping?
Another study found that out of 115 completed SPAC mergers, from 2016 to the end of 2020, 65% had declined. Accordingly, one of the reasons why LiDAR companies' stocks are falling is mainly related to the financial vehicle they chose to go public, rather than solely to the performance of the companies.
Will Velodyne Lidar recover?
Velodyne Lidar as a company has faced hurdles in the past and they are expected to continue in the future, but it needs right governance and strong management at its heart to start with. If the company get these issues right and reports good quarter results, then it has bright future ahead.
What is the best lidar company to invest in?
8 LiDAR Stocks for Investors to Keep on Their RadarCompanyTickerPriceOuster IncOUST$4.11Innoviz TechnologiesINVZ$3.65Velodyne LidarVLDR$2.28QuanergyQNGY$2.024 more rows•Mar 25, 2022
Is lidar worth investing?
Despite lidar being a future state technology at this point, though, some analysts are setting ambitious price targets for these stocks, even in the next 12 months. Thus, for investors willing to bet on its future, lidar stocks could be a good investment right now.
What is Velodyne Lidar?
Velodyne Lidar is a San Jose, California-based company that produces lidar sensors for use in autonomous vehicles, advanced driver assistance systems, robotics, mapping, smart city applications and infrastructure. It was spun off from Velodyne Acoustics in 2016 after more than 10 years of experience working with lidar sensors.
Quarterly Earnings
Those considering Velodyne Lidar stock might be a bit put off by the company’s earnings. Most recently, it posted a Q3 2021 net income of -$54.7 million, a 933% year-over-year (YOY) decrease. Granted, its Q3 2021 net income was better than its Q4 2020 net income, which was -$111 million. Its net profit margin for Q3 was -419%.
Velodyne Lidar Stock Forecast
Things don’t look great in the near term for VLDR, and the stock has a bearish short-term sentiment. The company went public in September 2020 as part of a SPAC merger with Graf Industrial Corp. Since then, its share price has been on a downward trend. It went from just under $29 in September 2020 to under $5 today.
Why is the Stock Dropping?
Velodyne Lidar stock has been dropping due to a combination of its poor earnings and some controversy within the company. The biggest issues are a claim by Criterion Technology that Velodyne stole trade secrets and issues with the company’s leadership.
Should You Buy Velodyne Lidar Stock?
Velodyne Lidar stock has had a rough couple of years. The company went public in September 2020, and founder David Hall has been unhappy with several board members after its SPAC merger with Graf. In fact, he has publicly called for the resignation of several board members and issued a letter to shareholders outlining problems with the company.
About Bob Haegele
Bob Haegele is a personal finance writer who specializes in investing and planning for retirement. His hefty student loan burden inspired him to pay off his loans, and now he’s helping others get their finances in order. When he’s not writing, he enjoys travel and live music.
What is a velodyne lidar?
Velodyne Lidar (NASDAQ: VLDR) is a company that produces lidar sensors that are primarily used in self-driving and autonomous vehicles. Velodyne stock has declined by over 40% year-to-date, due to mixed fourth-quarter results and also due to some corporate governance-related issues. However, there have been some positive developments relating ...
How many lidar sensors will be sold in 2020?
For perspective, Luminar noted that it expects to sell just 100 lidar sensors in 2020 and the consensus Revenues estimates for the company stand at just about $15 million this year. Separately, Velodyne also appears to be eyeing Luminar’s turf with new sensors that are cheap enough for the mass market.
What is a VLDR?
Velodyne Lidar (NASDAQ: VLDR), a company that produces lidar sensors that are primarily used in self-driving vehicles, has seen its stock decline by about 40% over the last month. So what’s driving the stock lower?
How much does Luminar cost?
The company’s sensors are expected to hit the sweet spot for automakers, costing under $1,000 per unit while offering very strong performance relative to their price.
Is Velodyne Lidar down?
Velodyne Lidar (NASDAQ: VLDR), a company that produces lidar sensors used in autonomous vehicles, has seen its stock decline by about 15% over the last week (five trading days). The stock also remains down by over 50% year-to-date.
What is a lidar?
Lidar technology is seen as a cornerstone of self-driving systems, which are one of the hottest areas in the automotive market. Most automotive OEMs (apart from Tesla) are opting for the technology for their autonomous driving roadmaps and Velodyne happens to be one of the biggest players in the nascent market.
What is Velodyne used for?
The company’s sensors (such as the 360-degree units that are placed on a vehicle roof) are typically used in prototype self-driving cars and other relatively lower volume applications such as research and development.
How many lidar sensors will be sold in 2020?
For perspective, Luminar noted that it expects to sell just 100 lidar sensors in 2020 and the consensus Revenues estimates for the company stand at just about $15 million this year. Separately, Velodyne also appears to be eyeing Luminar’s turf with new sensors that are cheap enough for the mass market.
How much is Luminar worth in 2021?
While Luminar’s market cap stands at roughly $10 billion, trading at over 350x projected 2021 revenue, Velodyne - which is actually the more established player in the lidar market - is valued at under $4 billion, or a P/S multiple of about 25x.
Is Velodyne Lidar down?
Velodyne Lidar (NASDAQ: VLDR), a company that produces lidar sensors used in autonomous vehicles, has seen its stock decline by about 15% over the last week (five trading days). The stock also remains down by over 50% year-to-date.
Who is the CEO of Velodyne?
The company’s CEO, Anand Gopalan, claimed that the lidar maker has the largest pipeline in the sector. And Velodyne signed 26 deals between Jan 1 2020 and Feb. 19, 2021, versus just three contract for all of 2020, CFO Drew Hamer reported.
How many units does Velodyne have in 2021?
Finally, showing the increasing diversity of Velodyne’s business, the CEO stated that its non-automotive pipeline had more than tripled “from 873,000 units in February of 2020 to 1.9 million units” as of Feb. 19, 2021.
Is Velodyne a long term problem?
With herd immunity rapidly approaching in many places, the virus should not be a long-term problem for the company. Finally, on Feb. 22 Velodyne disclosed that it had ousted its chairman and head of marketing, who are married to each other.
Does Velodyne have to restate its financial results?
There’s been speculation that, in the wake of the scandal, Velodyne may have to restate its financial results or revise the size of its pipeline downwards. If that was the case, however, I believe that the company would likely have had to disclose the news already, since over a month has passed since its probe concluded.
Why are LiDAR Stocks Going Down?
Recently I’ve been frequently asked why are LiDAR companies' stocks going down. Although several articles have already been published regarding this matter, I’ll try to present my point of view and cover some of the possible reasons for this recent trend.
Lack of Technology Consensus
Each of the six companies presents a strikingly different technological concept and approach to solve a similar problem of providing a robust, high-performing, small, and cheap LiDAR sensor for the automotive market. These companies don’t agree on any of the main modules of the system: laser source, detector, and scanning technology.
Lack of Significant New Design Wins
Some of the traded LiDAR companies presented design wins in the past (like Innoviz with BMW or Luminar with Volvo). Still, the impacts of these pre-IPO design wins have already been incorporated into the company's market value.
Disappointing Financial Results
Following the previous chapter, the traded companies are unable to present a secured future revenue stream. Besides, their current earnings are constantly lower than expected (see the figure below: red circles are actual earnings vs. grey circles — estimated earnings).
The Winter is Coming
Every second headline claims that there is a bubble and the bear market is just around the corner. Yet, in parallel, such mega-investors as Ray Dalio (Bridgewater) or Michael Burry (Scion) are taking defensive positions. Besides, Shiller PE Ratio (CAPE ratio), Buffet Indicator, and FINRA’s margin statistics may all indicate a bubble in the market.
COVID-19 Consequences
LiDAR companies are developing a top-notch technology that will be implemented, in particular, in the leading technological achievement of the upcoming years — autonomous vehicles.
Tesla Drops Out Radar
It’s already old news that Tesla, especially Elon Musk, claims that LiDAR isn’t required for autonomous driving. However, in the last few months, Tesla announced that starting from deliveries in May 2021, Model 3 and Model Y vehicles built for the North American market will no longer be equipped with radar but rely only on camera sensors.
About Velodyne Lidar
Velodyne Lidar, Inc. operates as an automotive technology company, which engages in the provision of real-time three dimensional (3D) vision for autonomous systems. The firm's products include solid state sensors, surround sensors, and software solutions.
Headlines
Quanergy had a disappointing Wall Street debut. But its CEO says it got what it needed.
What is Stock Sentiment?
In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company.
More About Velodyne Lidar Inc
Velodyne Lidar Inc provides sensor technologies for autonomous vehicles. It provides lidar solutions for autonomous vehicles, driver assistance, delivery solutions, robotics, navigation, and mapping. The product portfolio includes surround sensors, directional sensors, close-range sensors, and other related software.