Velocity Composites (LON:VEL) Trading Up 21.6% – Still a Buy?

Shares of Velocity Composites plc (LON:VEL) shot up 21.6% during trading on Tuesday . The company traded as high as GBX 31 ($0.39) and last traded at GBX 31 ($0.39). 111,549 shares were traded during mid-day trading, an increase of 65% from the average session volume of 67,562 shares. The stock had previously closed at GBX 25.50 ($0.32).

Wall Street Analysts Forecast Growth

VEL has been the topic of several recent analyst reports. Canaccord Genuity Group restated a “buy” rating and set a GBX 60 ($0.75) price objective on shares of Velocity Composites in a research note on Thursday, December 12th. Canaccord Genuity Group restated a “buy” rating and issued a GBX 60 ($0.75) price objective on shares of Velocity Composites in a research note on Thursday, December 12th.

Velocity Composites Price Performance

The company’s 50-day moving average price is GBX 24.29 and its two-hundred day moving average price is GBX 33.91. The company has a debt-to-equity ratio of 50.50, a current ratio of 1.75 and a quick ratio of 2.66. The company has a market capitalization of £16.31 million, a P/E ratio of -381.25 and a beta of 1.53.

Insiders Place Their Bets

In other Velocity Composites news, insider Jonathan Karl Bridges sold 150,000 shares of the 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 transaction of £37,500 ($46,916.05). 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.