Velocity Composites (LON:VEL) Sets New 12-Month Low – Should You Sell?

Velocity Composites plc (LON:VEL)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as GBX 24.25 ($0.31) and last traded at GBX 26.74 ($0.35), with a volume of 139637 shares traded. The stock had previously closed at GBX 26.50 ($0.34).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reduced their target price on shares of Velocity Composites from GBX 70 ($0.91) to GBX 60 ($0.78) and set a “buy” rating for the company in a report on Wednesday, September 18th.

Velocity Composites Stock Down 1.0 %

The business has a 50-day simple moving average of GBX 36.30 and a two-hundred day simple moving average of GBX 37.92. The company has a market capitalization of £13.77 million, a price-to-earnings ratio of -321.88 and a beta of 1.53. The company has a debt-to-equity ratio of 50.50, a quick ratio of 2.66 and a current ratio of 1.75.

Insider Buying and Selling

In other news, insider Robert Smith acquired 20,000 shares of the company’s stock in a transaction 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 ($9,077.94). Corporate 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.