Velocity Composites (LON:VEL) Reaches New 1-Year Low – Should You Sell?

Velocity Composites plc (LON:VEL) shares hit a new 52-week low during trading on Monday . The stock traded as low as GBX 22 ($0.28) and last traded at GBX 22 ($0.28), with a volume of 3963 shares trading hands. The stock had previously closed at GBX 22.50 ($0.28).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group cut their target price on Velocity Composites from GBX 70 ($0.88) to GBX 60 ($0.75) and set a “buy” rating on the stock in a research note on Wednesday, September 18th.

Velocity Composites Price Performance

The firm has a fifty day moving average price of GBX 29.54 and a two-hundred day moving average price of GBX 37. The stock has a market capitalization of £11.76 million, a P/E ratio of -275.00 and a beta of 1.53. The company has a debt-to-equity ratio of 50.50, a quick ratio of 2.66 and a current ratio of 1.75.

Insider Buying and Selling

In other Velocity Composites news, insider Jonathan Karl Bridges sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of GBX 25 ($0.31), for a total transaction of £37,500 ($47,098.72). Also, insider Robert Smith purchased 20,000 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was purchased at an average price of GBX 35 ($0.44) per share, with a total value of £7,000 ($8,791.76). 40.10% of the stock is owned by 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.