Velocity Composites (LON:VEL) Announces 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

VEL stock traded up GBX 3.45 ($0.04) during trading on Wednesday, hitting GBX 31.95 ($0.40). 557,792 shares of the stock traded hands, compared to its average volume of 128,914. 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 has a market cap of £17.08 million, a price-to-earnings ratio of -399.38 and a beta of 1.53. Velocity Composites has a one year low of GBX 19.60 ($0.24) and a one year high of GBX 48 ($0.60). The company has a 50 day simple moving average of GBX 26.04 and a 200 day simple moving average of GBX 32.79.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. 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 restated a “buy” rating and set a GBX 60 ($0.75) price objective on shares of Velocity Composites in a research report on Thursday, December 12th.

Insider Activity

In related news, insider Jonathan Karl Bridges sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of GBX 25 ($0.31), for a total value of £37,500 ($46,659.20). 40.10% of the stock is currently owned by corporate 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.