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Velodyne Lidar, Inc. (VLDR) Dips More Than Broader Markets: What You Should Know

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In the latest trading session, Velodyne Lidar, Inc. closed at $23.16, marking a -1.11% move from the previous day. This change lagged the S&P 500's daily loss of 0.04%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq lost 0.25%.

Prior to today's trading, shares of the company had gained 3.45% over the past month. This has outpaced the Auto-Tires-Trucks sector's gain of 2.37% and the S&P 500's gain of 2.37% in that time.

Investors will be hoping for strength from VLDR as it approaches its next earnings release, which is expected to be February 25, 2021.

It is also important to note the recent changes to analyst estimates for VLDR. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 43.18% lower. VLDR currently has a Zacks Rank of #4 (Sell).

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 48, which puts it in the top 19% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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