Velocity Composites (LON:VEL) Sets New 12-Month Low – Here’s What Happened

Velocity Composites plc (LON:VEL)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as GBX 24 ($0.31) and last traded at GBX 25 ($0.32), with a volume of 321673 shares trading hands. The stock had previously closed at GBX 23.16 ($0.30).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group cut their price target on Velocity Composites from GBX 70 ($0.90) to GBX 60 ($0.77) and set a “buy” rating for the company in a research note on Wednesday, September 18th.

Velocity Composites Trading Up 1.4 %

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 firm has a market capitalization of £13.01 million, a P/E ratio of -300.00 and a beta of 1.53. The stock has a 50 day simple moving average of GBX 33.22 and a 200-day simple moving average of GBX 37.62.

Insider Activity

In other news, insider Jonathan Karl Bridges sold 150,000 shares of Velocity Composites stock in a transaction dated Friday, November 1st. The stock was sold at an average price of GBX 25 ($0.32), for a total transaction of £37,500 ($48,256.34). In other Velocity Composites news, insider Robert Smith purchased 20,000 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were bought at an average cost of GBX 35 ($0.45) per share, with a total value of £7,000 ($9,007.85). Also, insider Jonathan Karl Bridges sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of GBX 25 ($0.32), for a total value of £37,500 ($48,256.34). 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.