Velocity Composites (LON:VEL) Stock Price Down 7.2% – Time to Sell?

Velocity Composites plc (LON:VEL)’s stock price fell 7.2% during mid-day trading on Tuesday . The company traded as low as GBX 20 ($0.25) and last traded at GBX 20.88 ($0.26). 117,898 shares were traded during mid-day trading, an increase of 191% from the average session volume of 40,545 shares. The stock had previously closed at GBX 22.50 ($0.28).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group decreased their price objective on Velocity Composites from GBX 70 ($0.88) to GBX 60 ($0.75) and set a “buy” rating for the company in a report on Wednesday, September 18th.

Velocity Composites Stock Performance

The company has a 50-day moving average price of GBX 29.54 and a two-hundred day moving average price of GBX 37. The company has a quick ratio of 2.66, a current ratio of 1.75 and a debt-to-equity ratio of 50.50. The stock has a market capitalization of £11.16 million, a P/E ratio of -281.25 and a beta of 1.53.

Insider Activity at Velocity Composites

In other Velocity Composites 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 ($0.31), for a total value of £37,500 ($47,098.72). Also, insider Robert Smith acquired 20,000 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was purchased at an average price of GBX 35 ($0.44) per share, for a total transaction of £7,000 ($8,791.76). 40.10% of the stock is currently owned by insiders.

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.