Velocity Composites (LON:VEL) Hits New 52-Week Low on Insider Selling

Velocity Composites plc (LON:VEL) shares hit a new 52-week low during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as GBX 23 ($0.30) and last traded at GBX 23.13 ($0.30), with a volume of 109641 shares traded. The stock had previously closed at GBX 24 ($0.31).

Specifically, insider Jonathan Karl Bridges sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of GBX 25 ($0.32), for a total value of £37,500 ($48,631.82).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group decreased 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 report on Wednesday, September 18th.

Velocity Composites Stock Down 3.6 %

The stock’s fifty day moving average price is GBX 35.35 and its 200-day moving average price is GBX 37.89. The company has a market capitalization of £12.37 million, a price-to-earnings ratio of -287.50 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.

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.