Velocity Composites (LON:VEL) Stock Price Down 6.1% – Here’s Why

Velocity Composites plc (LON:VEL) fell 6.1% during trading on Thursday . The stock traded as low as GBX 25.25 ($0.31) and last traded at GBX 25.35 ($0.31). 78,853 shares traded hands during trading, an increase of 57% from the average session volume of 50,317 shares. The stock had previously closed at GBX 27 ($0.34).

Analysts Set New Price Targets

VEL has been the topic of a number of research reports. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 60 ($0.75) price objective on shares of Velocity Composites in a research note on Thursday, December 12th. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 60 ($0.75) price target on shares of Velocity Composites in a research report on Thursday, December 12th.

Velocity Composites Price Performance

The company has a debt-to-equity ratio of 50.50, a current ratio of 1.75 and a quick ratio of 2.66. The stock has a fifty day simple moving average of GBX 24.30 and a 200-day simple moving average of GBX 34.07. The company has a market capitalization of £13.84 million, a price-to-earnings ratio of -323.50 and a beta of 1.53.

Insider Activity at Velocity Composites

In other news, insider Jonathan Karl Bridges sold 150,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of GBX 25 ($0.31), for a total transaction of £37,500 ($46,583.85). Company insiders own 40.10% of the company’s stock.

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.