What Makes Velo3D (VLD) an Attractive Investment?

Baron Funds, an investment management company, released its “Baron Partners Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. Through the first nine months of the year, the fund modestly outperformed the Russel Midcap Growth Index. The last quarter caused the fund’s absolute and relative annual performance to be meaningfully lower than its long-term average. The fund declined 19.94% in the fourth quarter compared to the Russell Midcap Growth Index’s 6.90% return. For the calendar year, the fund returned -42.41% compared to a -26.72% return for the Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Baron Partners Fund highlighted stocks like Velo3D, Inc. (NYSE:VLD) in the Q4 2022 investor letter. Headquartered in Campbell, California, Velo3D, Inc. (NYSE:VLD) is a metal additive three-dimensional printer producer. On February 21, 2023, Velo3D, Inc. (NYSE:VLD) stock closed at $3.0900 per share. One-month return of Velo3D, Inc. (NYSE:VLD) was 43.06%, and its shares lost 57.20% of their value over the last 52 weeks. Velo3D, Inc. (NYSE:VLD) has a market capitalization of $576.035 million.

Baron Partners Fund made the following comment about Velo3D, Inc. (NYSE:VLD) in its Q4 2022 investor letter:

“Shares of Velo3D, Inc. (NYSE:VLD), a 3D printing manufacturer providing a full-stack hardware and software solution to enable support-free printing, fell during the quarter on a slightly lowered 2022 financial outlook due to timing of shipments and supply chain challenges. Despite this setback, the company is committed to achieving profitability by the end of 2023. We believe Velo’s unique technology and software solutions will drive strong growth, especially as the Sapphire XC system, with its larger print volume, continues to penetrate the market for complex metal parts.”

Velo3D, Inc. (NYSE:VLD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held Velo3D, Inc. (NYSE:VLD) at the end of the fourth quarter which was 11 in the previous quarter.

We discussed Velo3D, Inc. (NYSE:VLD) in another article and shared the worst stock picks of Cathie Wood in 2022. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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