Velocity Composites (LON:VEL) Sets New 52-Week Low – What’s Next?

Velocity Composites plc (LON:VEL)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as GBX 22 ($0.28) and last traded at GBX 22.75 ($0.29), with a volume of 45362 shares. The stock had previously closed at GBX 23 ($0.29).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group decreased their price objective on shares of Velocity Composites from GBX 70 ($0.89) to GBX 60 ($0.76) and set a “buy” rating for the company in a report on Wednesday, September 18th.

Velocity Composites Stock Performance

The firm has a market capitalization of £12.03 million, a P/E ratio of -281.25 and a beta of 1.53. The stock’s 50-day simple moving average is GBX 31.21 and its two-hundred day simple moving average is GBX 37.32. The company has a debt-to-equity ratio of 50.50, a current ratio of 1.75 and a quick ratio of 2.66.

Insider Buying and Selling

In other news, insider Jonathan Karl Bridges sold 150,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of GBX 25 ($0.32), for a total value of £37,500 ($47,588.83). Also, insider Robert Smith purchased 20,000 shares of Velocity Composites stock in a transaction that occurred on Friday, October 4th. The stock was bought at an average cost of GBX 35 ($0.44) per share, for a total transaction of £7,000 ($8,883.25). 40.10% of the stock is owned by company insiders.

About Velocity Composites

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.