Velocity Composites (LON:VEL) Receives New Coverage from Analysts at Canaccord Genuity Group

Canaccord Genuity Group started coverage on shares of Velocity Composites (LON:VELFree Report) in a research note issued to investors on Wednesday, MarketBeat reports. The firm issued a buy rating and a GBX 70 ($0.89) target price on the stock.

Velocity Composites Price Performance

LON VEL opened at GBX 39.50 ($0.50) on Wednesday. Velocity Composites has a 52 week low of GBX 28 ($0.36) and a 52 week high of GBX 57 ($0.72). The company has a current ratio of 1.72, a quick ratio of 2.66 and a debt-to-equity ratio of 55.04. The stock has a market cap of £21.12 million, a price-to-earnings ratio of -493.75 and a beta of 1.60. The company has a 50-day moving average price of GBX 32.95 and a two-hundred day moving average price of GBX 35.28.

Insiders Place Their Bets

In other news, insider Andrew Beaden bought 12,500 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was purchased at an average price of GBX 31 ($0.39) per share, for a total transaction of £3,875 ($4,925.01). 47.74% of the stock is owned by insiders.

About Velocity Composites

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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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