Velocity Composites (LON:VEL) Hits New 12-Month Low – What’s Next?

Velocity Composites plc (LON:VEL)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as GBX 13 and last traded at GBX 14, with a volume of 61205 shares trading hands. The stock had previously closed at GBX 13.50.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reduced their price target on shares of Velocity Composites from GBX 50 to GBX 40 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of GBX 40.

Velocity Composites Stock Up 3.7%

The business has a 50 day simple moving average of GBX 17.83 and a 200 day simple moving average of GBX 22.52. The company has a market capitalization of £7.65 million, a price-to-earnings ratio of -10.22 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.

Insider Transactions at Velocity Composites

In related news, insider Jonathan Karl Bridges sold 333,333 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of GBX 15, for a total transaction of £49,999.95. Insiders own 15.21% of the company’s stock.

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. The company also offers engineered vacuum bag material kits; and honeycomb, core potting compounds, and co-bonded materials, including hole potting compound kits, cut shape metallic foils and meshes for lightning strike protection/EMI shielding, honeycomb and foam core products, and kitted co-bonded films.