Velocity Composites (LON:VEL) Trading Up 21.6% – Here’s Why

Velocity Composites plc (LON:VEL) was up 21.6% on Tuesday . The stock traded as high as GBX 31 ($0.38) and last traded at GBX 31 ($0.38). Approximately 111,549 shares changed hands during mid-day trading, an increase of 65% from the average daily volume of 67,562 shares. The stock had previously closed at GBX 25.50 ($0.32).

Analysts Set New Price Targets

A number of analysts have commented on the company. Canaccord Genuity Group reissued a “buy” rating and set a GBX 60 ($0.74) price objective on shares of Velocity Composites in a report on Thursday, December 12th. Canaccord Genuity Group reissued a “buy” rating and issued a GBX 60 ($0.74) price target on shares of Velocity Composites in a research report on Thursday, December 12th.

Velocity Composites Trading Down 2.0 %

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 firm’s fifty day moving average is GBX 24.41 and its two-hundred day moving average is GBX 33.81. The firm has a market capitalization of £15.45 million, a PE ratio of -361.25 and a beta of 1.53.

Insider Transactions at Velocity Composites

In other news, insider Jonathan Karl Bridges sold 150,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of GBX 25 ($0.31), for a total transaction of £37,500 ($46,353.52). Company 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.