Velocity Composites (LON:VEL) Shares Down 0.4% – Time to Sell?

Velocity Composites plc (LON:VEL) shares were down 0.4% during trading on Tuesday . The stock traded as low as GBX 28 ($0.35) and last traded at GBX 28.89 ($0.36). Approximately 287,405 shares were traded during mid-day trading, an increase of 157% from the average daily volume of 111,673 shares. The stock had previously closed at GBX 29 ($0.36).

Analysts Set New Price Targets

Several equities research analysts have issued reports on VEL shares. Canaccord Genuity Group restated a “buy” rating and set a GBX 60 ($0.75) target price on shares of Velocity Composites in a research report on Thursday, December 12th. Canaccord Genuity Group restated a “buy” rating and issued a GBX 60 ($0.75) target price on shares of Velocity Composites in a research note on Thursday, December 12th.

Velocity Composites Stock Down 0.4 %

The stock has a 50-day simple moving average of GBX 26.04 and a two-hundred day simple moving average of GBX 32.79. The company has a quick ratio of 2.66, a current ratio of 1.75 and a debt-to-equity ratio of 50.50. The firm has a market cap of £15.45 million, a PE ratio of -361.13 and a beta of 1.53.

Insider Activity at Velocity Composites

In other Velocity Composites news, insider Jonathan Karl Bridges sold 150,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of GBX 25 ($0.31), for a total transaction of £37,500 ($46,659.20). 40.10% of the stock is currently owned by insiders.

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.