Velocity Composites (LON:VEL) Sets New 1-Year Low on Insider Selling

Velocity Composites plc (LON:VEL) hit a new 52-week low during trading on Tuesday following insider selling activity. The company traded as low as GBX 23 ($0.30) and last traded at GBX 23.13 ($0.30), with a volume of 109641 shares changing hands. The stock had previously closed at GBX 24 ($0.31).

Specifically, 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 ($0.33), for a total transaction of £37,500 ($48,815.41).

Analyst Ratings Changes

Separately, Canaccord Genuity Group cut their price objective on shares of Velocity Composites from GBX 70 ($0.91) to GBX 60 ($0.78) and set a “buy” rating for the company in a research report on Wednesday, September 18th.

Velocity Composites Price Performance

The company has a market cap of £12.57 million, a P/E ratio of -293.75 and a beta of 1.53. The firm’s 50-day moving average is GBX 34.67 and its two-hundred day moving average is GBX 37.74. The company has a debt-to-equity ratio of 50.50, a current ratio of 1.75 and a quick ratio of 2.66.

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.