Velocity Composites (LON:VEL) Shares Down 0.4% – Here’s Why

Shares of Velocity Composites plc (LON:VEL) traded down 0.4% during trading on Tuesday . The stock traded as low as GBX 28 ($0.35) and last traded at GBX 28.89 ($0.36). 287,405 shares traded hands during mid-day trading, an increase of 157% from the average session volume of 111,673 shares. The stock had previously closed at GBX 29 ($0.36).

Analyst Ratings Changes

VEL has been the subject of several analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 60 ($0.75) price objective on shares of Velocity Composites in a research note on Thursday, December 12th. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 60 ($0.75) price target on shares of Velocity Composites in a research report on Thursday, December 12th.

Velocity Composites Stock Down 0.4 %

The stock’s 50-day moving average price is GBX 26.04 and its 200-day moving average price is GBX 32.79. The company has a current ratio of 1.75, a quick ratio of 2.66 and a debt-to-equity ratio of 50.50. The stock has a market cap of £15.45 million, a price-to-earnings ratio of -361.13 and a beta of 1.53.

Insider Activity at Velocity Composites

In other Velocity Composites news, insider Jonathan Karl Bridges sold 150,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of GBX 25 ($0.31), for a total value of £37,500 ($46,659.20). 40.10% of the stock is owned by corporate 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.