Velocity Composites (LON:VEL) Hits New 52-Week Low – What’s Next?

Velocity Composites plc (LON:VEL) shares reached a new 52-week low on Tuesday . The company traded as low as GBX 14.60 and last traded at GBX 15.16, with a volume of 67002 shares changing hands. The stock had previously closed at GBX 15.75.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group cut their price target on Velocity Composites from GBX 50 to GBX 40 and set a “buy” rating for the company in a report on Wednesday, November 5th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of GBX 50.

Velocity Composites Stock Performance

The company has a market cap of £7.92 million, a P/E ratio of -10.58 and a beta of 1.53. The stock has a 50 day moving average price of GBX 19.12 and a two-hundred day moving average price of GBX 23.17. The company has a quick ratio of 2.66, a current ratio of 1.63 and a debt-to-equity ratio of 47.56.

Insider Buying and Selling at Velocity Composites

In other news, insider Jonathan Karl Bridges sold 333,333 shares of Velocity Composites stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of GBX 15, for a total transaction of £49,999.95. Corporate insiders own 15.21% of the company’s stock.

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.