Velocity Composites (LON:VEL) Trading Down 6.1% – Here’s What Happened

Shares of Velocity Composites plc (LON:VEL) were down 6.1% during trading on Thursday . The company traded as low as GBX 25.25 ($0.31) and last traded at GBX 25.35 ($0.31). Approximately 78,853 shares traded hands during mid-day trading, an increase of 57% from the average daily volume of 50,317 shares. The stock had previously closed at GBX 27 ($0.33).

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 60 ($0.74) target price on shares of Velocity Composites in a research report on Thursday, December 12th. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 60 ($0.74) target price on shares of Velocity Composites in a report on Thursday, December 12th.

Velocity Composites Trading Down 6.1 %

The company has a debt-to-equity ratio of 50.50, a quick ratio of 2.66 and a current ratio of 1.75. The company has a market capitalization of £13.55 million, a P/E ratio of -316.88 and a beta of 1.53. The company’s fifty day simple moving average is GBX 24.31 and its 200-day simple moving average is GBX 34.17.

Insider Activity

In other news, insider Robert Smith bought 20,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was bought at an average price of GBX 35 ($0.43) per share, with a total value of £7,000 ($8,664.44). Also, insider Jonathan Karl Bridges sold 150,000 shares of Velocity Composites stock in a transaction on Friday, November 1st. The stock was sold at an average price of GBX 25 ($0.31), for a total transaction of £37,500 ($46,416.64). 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.