Is Velo3D (VLD) A Smart Long-Term Buy?

Baron Growth Fund recently published its third-quarter commentary – a copy of which can be downloaded here. During the third quarter of 2021, the Baron Growth Fund returned 3.63% (institutional shares). In comparison, the benchmark S&P 500 Index was up 0.58%, while the Russell 2000 Growth Index was down 5.65%. You should check out Baron Growth Fund’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2022.

Baron Growth Fund, in its Q3 2021 investor letter, mentioned Velo3D, Inc. (NYSE: VLD) and discussed its stance on the firm. Velo3D, Inc. is a California-based digital manufacturing company with a $1.6 billion market capitalization. VLD delivered a -30.97% return for the past month and it closed at $9.05 per share on December 09, 2021.

Here is what Baron Growth Fund has to say about Velo3D, Inc.  in its Q3 2021 investor letter:

“This quarter we initiated a position in additive manufacturing vendor Velo3D, Inc. Velo produces a full-stack hardware and software solution based on proprietary powder bed fusion additive manufacturing technology. Its technology enables support-free production of highly complex, missioncritical metal parts.”

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Based on our calculations, Velo3D, Inc. (NYSE: VLD) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. VLD was in 17 hedge fund portfolios at the end of the third quarter of 2021, compared to 0 funds in the previous quarter. Velo3D, Inc. (NYSE: VLD) delivered a -9.41% return in the past 3 months.

You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q3 page.

Disclosure: None. This article is originally published at Insider Monkey.