Velocity Composites (LON:VEL) Earns “Buy” Rating from Canaccord Genuity Group

Velocity Composites (LON:VEL)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity Group in a research note issued to investors on Thursday, Marketbeat Ratings reports. They presently have a GBX 60 ($0.76) price target on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 122.22% from the stock’s previous close.

Velocity Composites Stock Performance

LON:VEL opened at GBX 27 ($0.34) on Thursday. Velocity Composites has a fifty-two week low of GBX 19.60 ($0.25) and a fifty-two week high of GBX 48 ($0.61). The company has a debt-to-equity ratio of 50.50, a quick ratio of 2.66 and a current ratio of 1.75. The company has a 50 day moving average price of GBX 25.35 and a 200 day moving average price of GBX 35.34. The stock has a market capitalization of £14.44 million, a P/E ratio of -337.50 and a beta of 1.53.

Insider Activity

In other news, insider Jonathan Karl Bridges sold 150,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of GBX 25 ($0.32), for a total transaction of £37,500 ($47,330.56). Also, insider Robert Smith acquired 20,000 shares of the stock in a transaction dated Friday, October 4th. The stock was acquired at an average cost of GBX 35 ($0.44) per share, with a total value of £7,000 ($8,835.04). 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.