Velocity Composites plc (LON:VEL – Get Free Report) reached a new 52-week low on Wednesday . The stock traded as low as GBX 27.50 ($0.36) and last traded at GBX 28 ($0.36), with a volume of 63867 shares changing hands. The stock had previously closed at GBX 29.50 ($0.38).
Wall Street Analysts Forecast Growth
Separately, Canaccord Genuity Group lowered their target price on 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.
Check Out Our Latest Report on Velocity Composites
Velocity Composites Stock Performance
Insiders Place Their Bets
In related news, insider Robert Smith acquired 20,000 shares of the business’s stock in a transaction that occurred 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 ($9,088.55). Company 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.
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