Velocity Composites (LON:VEL) Posts Quarterly Earnings Results

Velocity Composites (LON:VEL) released its quarterly earnings results on Wednesday. The company reported GBX (1.58) (($0.02)) earnings per share (EPS) for the quarter, Digital Look Earnings reports. Velocity Composites had a negative return on equity of 59.20% and a negative net margin of 11.83%.

Velocity Composites Price Performance

Shares of VEL opened at GBX 31.75 ($0.39) on Friday. The company has a current ratio of 1.75, a quick ratio of 2.66 and a debt-to-equity ratio of 50.50. The stock’s 50 day moving average is GBX 26.43 and its two-hundred day moving average is GBX 32.78. Velocity Composites has a twelve month low of GBX 19.60 ($0.24) and a twelve month high of GBX 48 ($0.60). The firm has a market capitalization of £16.98 million, a PE ratio of -396.88 and a beta of 1.53.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on VEL. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 60 ($0.75) target price on shares of Velocity Composites in a research note on Thursday, December 12th. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 60 ($0.75) price objective on shares of Velocity Composites in a research report on Thursday, December 12th.

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.