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

Velocity Composites plc (LON:VEL) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as GBX 24.25 ($0.31) and last traded at GBX 26.74 ($0.35), with a volume of 139637 shares. The stock had previously closed at GBX 26.50 ($0.34).

Analysts Set New Price Targets

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

Velocity Composites Price Performance

The company has a debt-to-equity ratio of 50.50, a quick ratio of 2.66 and a current ratio of 1.75. The stock’s fifty day moving average price is GBX 36.61 and its 200-day moving average price is GBX 37.99. The firm has a market cap of £14.30 million, a PE ratio of -334.25 and a beta of 1.53.

Insider Buying and Selling at Velocity Composites

In other news, insider Robert Smith purchased 20,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were acquired at an average price of GBX 35 ($0.45) per share, with a total value of £7,000 ($9,077.94). 40.10% of the stock is currently owned by corporate insiders.

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.