Velocity Composites (LON:VEL) Sets New 12-Month Low – Here’s What Happened

Velocity Composites plc (LON:VEL)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as GBX 13 and last traded at GBX 14, with a volume of 61205 shares trading hands. The stock had previously closed at GBX 13.50.

Analyst Ratings Changes

Separately, Canaccord Genuity Group decreased 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 analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 40.

Velocity Composites Stock Performance

The stock has a 50-day moving average of GBX 17.83 and a 200 day moving average of GBX 22.52. The stock has a market cap of £7.65 million, a PE ratio of -10.22 and a beta of 1.53. The company has a quick ratio of 2.66, a current ratio of 1.63 and a debt-to-equity ratio of 47.56.

Insider Buying and Selling at Velocity Composites

In other news, insider Jonathan Karl Bridges sold 333,333 shares of the business’s 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. 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.