Canaccord Genuity Group Lowers Velocity Composites (LON:VEL) Price Target to GBX 40

Velocity Composites (LON:VEL) had its price target lowered by stock analysts at Canaccord Genuity Group from GBX 50 to GBX 40 in a research report issued to clients and investors on Wednesday,Digital Look reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 123.46% from the company’s previous close.

Velocity Composites Stock Down 18.6%

VEL stock opened at GBX 17.90 on Wednesday. Velocity Composites has a one year low of GBX 15.70 and a one year high of GBX 37.52. The company has a debt-to-equity ratio of 47.56, a quick ratio of 2.66 and a current ratio of 1.63. The firm’s fifty day moving average is GBX 21.61 and its 200 day moving average is GBX 24.59. The firm has a market cap of £9.79 million, a PE ratio of -13.07 and a beta of 1.53.

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.