Velocity Composites (LON:VEL) Shares Down 1.1% – Here’s Why

Velocity Composites plc (LON:VEL) shares were down 1.1% on Tuesday . The company traded as low as GBX 16 and last traded at GBX 16.31. Approximately 40,713 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 55,476 shares. The stock had previously closed at GBX 16.50.

Analyst Ratings Changes

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

Velocity Composites Stock Down 1.1%

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 company has a market capitalization of £8.92 million, a price-to-earnings ratio of -11.91 and a beta of 1.53. The stock’s fifty day moving average price is GBX 16.01 and its 200-day moving average price is GBX 20.72.

Insider Buying and Selling

In other news, insider Jonathan Karl Bridges sold 333,333 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of GBX 15, for a total transaction of £49,999.95. 15.21% of the stock is owned by company insiders.

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. 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.