Velocity Composites (LON:VEL) Sets New 1-Year Low – Here’s What Happened

Shares of Velocity Composites plc (LON:VEL) hit a new 52-week low during trading on Wednesday . The company traded as low as GBX 15 and last traded at GBX 16, with a volume of 79791 shares traded. The stock had previously closed at GBX 16.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reduced their target price 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. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, Velocity Composites currently has an average rating of “Buy” and an average target price of GBX 50.

Velocity Composites Trading Up 1.6%

The company has a quick ratio of 2.66, a current ratio of 1.63 and a debt-to-equity ratio of 47.56. The stock’s 50 day moving average is GBX 19.74 and its two-hundred day moving average is GBX 23.54. The company has a market capitalization of £8.75 million, a PE ratio of -11.68 and a beta of 1.53.

Insider Activity

In other news, insider Jonathan Karl Bridges sold 333,333 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of GBX 15, for a total transaction of £49,999.95. Corporate insiders own 15.21% of the company’s stock.

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.