Velocity Composites (LON:VEL) Shares Up 21.6% – Here’s Why

Velocity Composites plc (LON:VEL) shares shot up 21.6% during trading on Tuesday . The company traded as high as GBX 31 ($0.38) and last traded at GBX 31 ($0.38). 111,549 shares were traded during trading, an increase of 65% from the average session volume of 67,562 shares. The stock had previously closed at GBX 25.50 ($0.32).

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on VEL shares. Canaccord Genuity Group reissued a “buy” rating and issued a GBX 60 ($0.74) price objective on shares of Velocity Composites in a research report on Thursday, December 12th. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 60 ($0.74) target price on shares of Velocity Composites in a report on Thursday, December 12th.

Velocity Composites Stock Performance

The company has a quick ratio of 2.66, a current ratio of 1.75 and a debt-to-equity ratio of 50.50. The firm has a market capitalization of £15.45 million, a P/E ratio of -361.25 and a beta of 1.53. The company’s 50 day moving average is GBX 24.41 and its 200-day moving average is GBX 33.81.

Insider Transactions at Velocity Composites

In related news, insider Jonathan Karl Bridges sold 150,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of GBX 25 ($0.31), for a total value of £37,500 ($46,353.52). Insiders own 40.10% of the company’s stock.

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.