Velocity Composites (LON:VEL) Hits New 52-Week Low – Here’s Why

Velocity Composites plc (LON:VEL)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as GBX 22 ($0.28) and last traded at GBX 22 ($0.28), with a volume of 3963 shares traded. The stock had previously closed at GBX 22.50 ($0.29).

Analyst Ratings Changes

Separately, Canaccord Genuity Group reduced their price target on Velocity Composites from GBX 70 ($0.89) to GBX 60 ($0.76) and set a “buy” rating for the company in a report on Wednesday, September 18th.

Velocity Composites Stock Performance

The company has a market capitalization of £11.34 million, a price-to-earnings ratio of -273.80 and a beta of 1.53. The stock has a 50 day simple moving average of GBX 29.05 and a 200 day simple moving average of GBX 36.89. The company has a quick ratio of 2.66, a current ratio of 1.75 and a debt-to-equity ratio of 50.50.

Insider Activity at Velocity Composites

In related news, insider Jonathan Karl Bridges sold 150,000 shares of Velocity Composites stock in a transaction dated Friday, November 1st. The shares were sold at an average price of GBX 25 ($0.32), for a total value of £37,500 ($47,540.57). Also, insider Robert Smith purchased 20,000 shares of the company’s stock in a transaction on Friday, October 4th. The stock was purchased at an average price of GBX 35 ($0.44) per share, for a total transaction of £7,000 ($8,874.24). 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.