The laser radar manufacturer, Velodyne Lidar (VLDR), announced that it had received a multi-year contract. Sales of the company are expected to grow significantly in the coming years in a promising market.
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One of the leading suppliers of autonomous aerial scanning drones, Emesent, signed a contract to supply Velodyne’s Puck LITE lidars. This is a compact scanning tool whose range reaches up to 100m. A multicopter or any other small drone with limited power and payload is well suited to use this sensor.
Emesent will use Velodyne lidars in its Hovermap mobile analysis and scanning system. This system is typically used in areas without GPS signals. Lidar sensors will create dense point clouds and build precise 3D models, but they will also be used to avoid drone collisions in intricate areas such as tunnels, near construction sites, offshore platforms. An airborne lidar like the Puck LITE lidar can drastically reduce scanning time.
In other words, Velodyne lidars are used beyond automated driving systems. In numerous industrial areas, the company’s development has great potential. Automation technology, machine vision, and robots are some of the main drivers and consumer demand.
Velodyne Lidar Inc (VLDR) started the day with a low of $25.15 and reached an intraday high of $26.19. It also recorded an intraday low of $24.05 during Tuesday’s trading session. Tuesday’s trading volume was 8,73 million, less than -36.91% of the stock’s daily average trading volume of 8.73 million.
Wall Street analysts are continuously monitoring the Velodyne Lidar Inc. (NASDAQ: VLDR) stock. Out of seven analysts, six believe it to be a Buy, while one believes it to be OVERWEIGHT. No analyst rated VLDR Stock as a HOLD, UNDERWEIGHT, or SELL. Based on these ratings, we can find that the average analyst rating of the stock is 1.60.
Over the past year, the stock’s performance has been positive. The stock has surged by 146.57% over the past twelve months, while VLDR’s performance over the last six months has upped by 61.63%. In the last month, VLDR’s performance has decreased by -5.09%, and the stock’s performance for the quarter now stands at 90.82%. Performance for the week currently stands at 12.58 %.