Velocity Composites (LON:VEL) Announces Quarterly Earnings Results

Velocity Composites (LON:VEL) released its quarterly earnings results on Wednesday. The company reported GBX (1.58) (($0.02)) earnings per share (EPS) for the quarter, Digital Look Earnings reports. Velocity Composites had a negative net margin of 11.83% and a negative return on equity of 59.20%.

Velocity Composites Stock Up 5.3 %

Shares of LON:VEL opened at GBX 30 ($0.37) on Wednesday. The company has a market cap of £16.04 million, a price-to-earnings ratio of -375.00 and a beta of 1.53. Velocity Composites has a 12 month low of GBX 19.60 ($0.24) and a 12 month high of GBX 48 ($0.60). The company has a current ratio of 1.75, a quick ratio of 2.66 and a debt-to-equity ratio of 50.50. The company has a 50-day moving average price of GBX 26.04 and a 200 day moving average price of GBX 32.79.

Insider Buying and Selling at Velocity Composites

In other news, insider Jonathan Karl Bridges sold 150,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of GBX 25 ($0.31), for a total value of £37,500 ($46,659.20). Company insiders own 40.10% of the company’s stock.

Wall Street Analysts Forecast Growth

VEL has been the subject of several recent research reports. Canaccord Genuity Group reissued a “buy” rating and set a GBX 60 ($0.75) price target on shares of Velocity Composites in a report on Thursday, December 12th. Canaccord Genuity Group reiterated 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.

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.