Velocity Composites (LON:VEL) Trading 9.7% Higher – Time to Buy?

Shares of Velocity Composites plc (LON:VEL) rose 9.7% during mid-day trading on Friday . The stock traded as high as GBX 16 and last traded at GBX 15.36. 259,493 shares changed hands during trading, an increase of 302% from the average session volume of 64,609 shares. The stock had previously closed at GBX 14.

Analyst Ratings Changes

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 40 target price on shares of Velocity Composites in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 40.

Velocity Composites Stock Up 9.7%

The company has a debt-to-equity ratio of 41.08, a current ratio of 1.31 and a quick ratio of 2.66. The stock has a market cap of £8.40 million, a price-to-earnings ratio of -5.43 and a beta of 1.16. The firm’s 50-day moving average is GBX 14.13 and its 200 day moving average is GBX 14.52.

Velocity Composites (LON:VEL) last announced its quarterly earnings data on Wednesday, June 24th. The company reported GBX (1.89) earnings per share (EPS) for the quarter. The company had revenue of GBX 844 million for the quarter. Velocity Composites had a negative net margin of 8.25% and a negative return on equity of 32.89%. Sell-side analysts anticipate that Velocity Composites plc will post 0.7403055 earnings per share for the current fiscal year.

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.