Velocity Composites (LON:VEL) Shares Up 1.7% – Here’s Why

Velocity Composites plc (LON:VEL) shares rose 1.7% during mid-day trading on Friday. The company traded as high as GBX 17.80 and last traded at GBX 17.80. 17,000 shares were traded during trading, a decline of 73% from the average session volume of 63,634 shares. The stock had previously closed at GBX 17.50.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 40 target price on shares of Velocity Composites in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of GBX 40.

Velocity Composites Stock Performance

The company has a market cap of £9.73 million, a P/E ratio of -6.29 and a beta of 1.19. The firm has a 50 day moving average of GBX 16.46 and a 200-day moving average of GBX 14.84. The company has a quick ratio of 2.66, a current ratio of 1.31 and a debt-to-equity ratio of 41.08.

Velocity Composites (LON:VEL) last issued its earnings results on Wednesday, June 24th. The company reported GBX (1.89) earnings per share for the quarter. Velocity Composites had a negative net margin of 8.25% and a negative return on equity of 32.89%. The firm had revenue of GBX 844 million for the quarter. As a group, sell-side analysts anticipate that Velocity Composites plc will post 0.7403055 EPS for the current fiscal year.

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.