Velocity Composites’ (VEL) Buy Rating Reiterated at Canaccord Genuity Group

Velocity Composites (LON:VEL)‘s stock had its “buy” rating reiterated by analysts at Canaccord Genuity Group in a research note issued to investors on Tuesday, MarketBeat Ratings reports. They presently have a GBX 40 price target on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 122.22% from the company’s previous close.

Velocity Composites Stock Performance

VEL traded down GBX 1 during trading hours on Tuesday, reaching GBX 18. The company’s stock had a trading volume of 180,448 shares, compared to its average volume of 74,190. The company’s 50-day moving average is GBX 16.07 and its 200-day moving average is GBX 20.01. Velocity Composites has a 52 week low of GBX 13 and a 52 week high of GBX 37.52. The firm has a market cap of £9.84 million, a PE ratio of -13.14 and a beta of 1.53. The company has a debt-to-equity ratio of 47.56, a quick ratio of 2.66 and a current ratio of 1.63.

Velocity Composites (LON:VEL) last released its quarterly earnings data on Tuesday, January 27th. The company reported GBX (2) EPS for the quarter. Velocity Composites had a negative net margin of 11.83% and a negative return on equity of 40.18%. On average, equities analysts forecast that Velocity Composites will post 0.7403055 EPS for the current year.

Insider Activity

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

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. The company also offers engineered vacuum bag material kits; and honeycomb, core potting compounds, and co-bonded materials, including hole potting compound kits, cut shape metallic foils and meshes for lightning strike protection/EMI shielding, honeycomb and foam core products, and kitted co-bonded films.