Velocity Composites (LON:VEL) Given Buy Rating at Canaccord Genuity Group

Velocity Composites (LON:VEL)‘s stock had its “buy” rating reiterated by equities research analysts at Canaccord Genuity Group in a research report issued to clients and investors on Tuesday, Marketbeat reports. They currently have a GBX 40 target price on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 122.22% from the company’s current price.

Velocity Composites Stock Down 5.3%

VEL stock traded down GBX 1 during trading on Tuesday, reaching GBX 18. 180,448 shares of the stock were exchanged, compared to its average volume of 74,190. The firm’s 50 day moving average is GBX 16.07 and its 200 day moving average is GBX 20.01. The firm has a market cap of £9.84 million, a P/E ratio of -13.14 and a beta of 1.53. The company has a current ratio of 1.63, a quick ratio of 2.66 and a debt-to-equity ratio of 47.56. Velocity Composites has a twelve month low of GBX 13 and a twelve month high of GBX 37.52.

Velocity Composites (LON:VEL) last issued its earnings results on Tuesday, January 27th. The company reported GBX (2) earnings per share for the quarter. Velocity Composites had a negative return on equity of 40.18% and a negative net margin of 11.83%. As a group, research analysts forecast that Velocity Composites will post 0.7403055 EPS for the current year.

Insiders Place Their Bets

In other Velocity Composites news, insider Jonathan Karl Bridges sold 333,333 shares of Velocity Composites stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of GBX 15, for a total transaction of £49,999.95. Insiders own 15.21% of the company’s stock.

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. 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.