Velocity Composites (LON:VEL) Stock Price Down 6.1% – Time to Sell?

Velocity Composites plc (LON:VEL)’s share price was down 6.1% on Thursday . The company traded as low as GBX 25.25 ($0.31) and last traded at GBX 25.35 ($0.31). Approximately 78,853 shares changed hands during trading, an increase of 57% from the average daily volume of 50,317 shares. The stock had previously closed at GBX 27 ($0.34).

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VEL. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 60 ($0.75) price target on shares of Velocity Composites in a report on Thursday, December 12th. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 60 ($0.75) target price on shares of Velocity Composites in a report on Thursday, December 12th.

Velocity Composites Trading Up 1.5 %

The company’s 50 day simple moving average is GBX 24.30 and its two-hundred day simple moving average is GBX 34.07. The company has a market capitalization of £13.84 million, a price-to-earnings ratio of -323.50 and a beta of 1.53. The company has a quick ratio of 2.66, a current ratio of 1.75 and a debt-to-equity ratio of 50.50.

Insider Buying and Selling

In related news, insider Jonathan Karl Bridges sold 150,000 shares of Velocity Composites stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of GBX 25 ($0.31), for a total value of £37,500 ($46,583.85). 40.10% of the stock is owned by company insiders.

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.