Velocity Composites (LON:VEL) Hits New 12-Month Low – Should You Sell?

Velocity Composites plc (LON:VEL) reached a new 52-week low during mid-day 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 changing hands. The stock had previously closed at GBX 22.50 ($0.29).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group cut their price objective on Velocity Composites from GBX 70 ($0.89) to GBX 60 ($0.76) and set a “buy” rating for the company in a research report on Wednesday, September 18th.

Velocity Composites Trading Up 8.2 %

The company has a fifty day simple moving average of GBX 29.05 and a 200-day simple moving average of GBX 36.89. The stock has a market cap of £11.34 million, a price-to-earnings ratio of -273.80 and a beta of 1.53. The company has a current ratio of 1.75, a quick ratio of 2.66 and a debt-to-equity ratio of 50.50.

Insider Activity at Velocity Composites

In other Velocity Composites news, 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 ($47,540.57). Also, insider Robert Smith bought 20,000 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were bought at an average cost of GBX 35 ($0.44) per share, with a total value of £7,000 ($8,874.24). 40.10% of the stock is owned by 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.