Velo3D, Inc. (NYSE:VLD) director Benyamin Buller recently engaged in transactions involving the company's common stock, according to a new SEC filing. Buller sold a total of 12,195 shares at an average price of $0.1483 per share, amounting to approximately $1,808. This sale was conducted for the purpose of covering tax liabilities associated with the receipt of shares in lieu of cash for director retainer fees.
The transaction took place on June 3, 2024, and followed the acquisition of 19,841 shares by Buller on May 31, 2024, which were granted as part of his director retainer. The shares were valued at an average closing price of $0.15 over the 30-day period ending on that date, resulting in a total value of $2,976.
Following the sale, Buller's holdings in Velo3D decreased slightly but he still maintains a significant stake in the company with 5,028,352 shares remaining in his possession. The transactions were executed directly and were disclosed in a Form 4 filing with the Securities and Exchange Commission.
Investors often monitor insider transactions as they can provide insights into how company executives view the stock's value and future prospects. In this case, the sale was specifically tied to tax obligations related to the compensation structure for Velo3D's directors.
Velo3D, headquartered in Campbell, California, operates in the specialized industrial machinery sector and is known for its innovative 3D metal printing technology. The company's shares are publicly traded on the New York Stock Exchange under the ticker symbol VLD.
InvestingPro Insights
As Velo3D, Inc. (NYSE:VLD) navigates through its financial landscape, recent metrics from InvestingPro paint a challenging picture for the company. With a market capitalization of $46.8 million, Velo3D is contending with a significant debt burden, which is reflected in its negative price-to-earnings (P/E) ratios of -0.24 and an adjusted -0.31 for the last twelve months as of Q1 2024. This indicates that investors are concerned about the company's profitability.
Moreover, Velo3D's revenue has seen a substantial decline, with a -35.02% growth rate over the last twelve months as of Q1 2024, and an even steeper quarterly revenue decline of -63.33% for Q1 2024. These figures underscore the financial difficulties the company is facing, which are further exacerbated by weak gross profit margins of -52.22% over the same period.
InvestingPro Tips for Velo3D highlight several concerns, including the company's rapid cash burn and the risk of not being able to make interest payments on its debt. Additionally, the stock's price has experienced a significant drop over the past year, with a -92.88% return, which could be indicative of investor sentiment towards the company's current financial health and future prospects. It's worth noting that while analysts anticipate sales growth in the current year, they do not expect the company to be profitable within the same timeframe.
For a more comprehensive analysis and additional insights into Velo3D, including 6 more InvestingPro Tips, investors can visit InvestingPro. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, further empowering your investment decisions with in-depth data and expert analysis.
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