Velocity Composites (LON:VEL) Sets New 1-Year Low – What’s Next?

Velocity Composites plc (LON:VEL)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as GBX 27.50 ($0.36) and last traded at GBX 28 ($0.36), with a volume of 63867 shares traded. The stock had previously closed at GBX 29.50 ($0.38).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group cut their target price on shares of Velocity Composites from GBX 70 ($0.91) to GBX 60 ($0.78) and set a “buy” rating on the stock in a research note on Wednesday, September 18th.

Velocity Composites Stock Performance

The stock has a 50 day simple moving average of GBX 37.46 and a 200 day simple moving average of GBX 37.97. The company has a market cap of £13.90 million, a price-to-earnings ratio of -328.75 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 Activity

In other news, insider Robert Smith acquired 20,000 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was bought at an average cost of GBX 35 ($0.45) per share, with a total value of £7,000 ($9,088.55). Insiders own 40.10% 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.