Velocity Composites plc (LON:VEL – Get Free Report) hit a new 52-week low during mid-day trading on Wednesday after Canaccord Genuity Group lowered their price target on the stock from GBX 50 to GBX 40. Canaccord Genuity Group currently has a buy rating on the stock. Velocity Composites traded as low as GBX 15.70 and last traded at GBX 18.40, with a volume of 558895 shares changing hands. The stock had previously closed at GBX 22.
Velocity Composites Stock Down 16.4%
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 simple moving average is GBX 21.61 and its 200-day simple moving average is GBX 24.59. The stock has a market cap of £10.06 million, a P/E ratio of -13.43 and a beta of 1.53.
About Velocity Composites
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.
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