Velocity Composites (LON:VEL) PT Lowered to GBX 60 at Canaccord Genuity Group

Velocity Composites (LON:VEL) had its price objective lowered by Canaccord Genuity Group from GBX 70 ($0.92) to GBX 60 ($0.79) in a report released on Wednesday, MarketBeat reports. The firm currently has a buy rating on the stock.

Velocity Composites Stock Performance

LON VEL opened at GBX 40 ($0.53) on Wednesday. The company has a market capitalization of £21.39 million, a price-to-earnings ratio of -506.25 and a beta of 1.53. Velocity Composites has a twelve month low of GBX 28 ($0.37) and a twelve month high of GBX 48 ($0.63). The stock has a fifty day simple moving average of GBX 42.79 and a 200 day simple moving average of GBX 37.89. The company has a quick ratio of 2.66, a current ratio of 1.75 and a debt-to-equity ratio of 50.50.

Insider Activity at Velocity Composites

In related news, insider Robert Smith acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was acquired at an average cost of GBX 4 ($0.05) per share, for a total transaction of £400 ($528.40). 40.10% of the stock is currently owned by company 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.