Canaccord Genuity Group Issues Pessimistic Forecast for Velocity Composites (LON:VEL) Stock Price

Velocity Composites (LON:VEL) had its target price cut by equities research analysts at Canaccord Genuity Group from GBX 50 to GBX 40 in a note issued to investors on Wednesday,Digital Look reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 123.46% from the stock’s current price.

Velocity Composites Price Performance

LON VEL opened at GBX 17.90 on Wednesday. Velocity Composites has a 1 year low of GBX 15.70 and a 1 year high of GBX 37.52. The company has a market cap of £9.79 million, a price-to-earnings ratio of -13.07 and a beta of 1.53. The company has a debt-to-equity ratio of 47.56, a current ratio of 1.63 and a quick ratio of 2.66. The stock’s fifty day moving average price is GBX 21.61 and its 200 day moving average price is GBX 24.59.

Velocity Composites Company Profile

Velocity Composites plc, together with its subsidiaries, offers engineered composite material kits to the aerospace industry in the United Kingdom, Europe, the United States, and internationally. It provides structural material kits, such as ply generation, shape management and configuration control, life management, and cutting and supply service, as well as materials comprising woven fabrics, unidirectional fabrics, impregnated metallic meshes, and film adhesives.