Velocity Composites (LON:VEL) Issues Quarterly Earnings Results

Velocity Composites (LON:VEL) posted its quarterly earnings results on Wednesday. The company reported GBX (1.58) (($0.02)) EPS for the quarter, Digital Look Earnings reports. Velocity Composites had a negative return on equity of 59.20% and a negative net margin of 11.83%.

Velocity Composites Stock Down 0.3 %

VEL stock opened at GBX 31.90 ($0.40) on Thursday. The company has a market capitalization of £17.06 million, a P/E ratio of -398.75 and a beta of 1.53. Velocity Composites has a 12 month low of GBX 19.60 ($0.24) and a 12 month high of GBX 48 ($0.60). The firm’s fifty day simple moving average is GBX 26.23 and its 200-day simple moving average is GBX 32.79. The company has a debt-to-equity ratio of 50.50, a current ratio of 1.75 and a quick ratio of 2.66.

Insider Buying and Selling

In other news, insider Jonathan Karl Bridges sold 150,000 shares of the company’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 ($46,688.25). 40.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.