Velocity Composites (LON:VEL) Reaches New 1-Year Low – Here’s What Happened

Velocity Composites plc (LON:VEL) shares reached a new 52-week low on Monday . The stock traded as low as GBX 22 ($0.28) and last traded at GBX 22.75 ($0.29), with a volume of 45362 shares trading hands. The stock had previously closed at GBX 23 ($0.29).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lowered their price objective on shares of 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 Price Performance

The company has a market cap of £12.03 million, a price-to-earnings ratio of -281.25 and a beta of 1.53. The company has a 50 day moving average price of GBX 31.21 and a 200-day moving average price of GBX 37.32. The company has a quick ratio of 2.66, a current ratio of 1.75 and a debt-to-equity ratio of 50.50.

Insiders Place Their Bets

In other news, insider Jonathan Karl Bridges sold 150,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of GBX 25 ($0.32), for a total transaction of £37,500 ($47,588.83). Also, insider Robert Smith acquired 20,000 shares of the stock in a transaction dated Friday, October 4th. The shares were bought at an average price of GBX 35 ($0.44) per share, for a total transaction of £7,000 ($8,883.25). Insiders own 40.10% 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.