Velocity Composites (LON:VEL) Shares Down 5.6% – Here’s What Happened

Velocity Composites plc (LON:VEL) dropped 5.6% during mid-day trading on Tuesday . The stock traded as low as GBX 15 and last traded at GBX 15.11. Approximately 152,319 shares traded hands during trading, an increase of 131% from the average daily volume of 66,010 shares. The stock had previously closed at GBX 16.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group restated a “buy” rating and issued a GBX 40 price target on shares of Velocity Composites in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of GBX 40.

Velocity Composites Stock Performance

The stock’s 50-day moving average price is GBX 16.34 and its 200-day moving average price is GBX 19.13. The company has a market capitalization of £8.26 million, a price-to-earnings ratio of -7.56 and a beta of 1.53. The company has a debt-to-equity ratio of 47.56, a quick ratio of 2.66 and a current ratio of 1.63.

Velocity Composites (LON:VEL) last released its quarterly earnings data on Tuesday, January 27th. The company reported GBX (2) earnings per share for the quarter. Velocity Composites had a negative net margin of 11.83% and a negative return on equity of 40.18%. As a group, equities research analysts expect that Velocity Composites plc will post 0.7403055 earnings per share for the current year.

Insider Activity

In related news, insider Jonathan Karl Bridges sold 333,333 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of GBX 15, for a total value of £49,999.95. 15.21% of the stock is owned by company insiders.

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. The company also offers engineered vacuum bag material kits; and honeycomb, core potting compounds, and co-bonded materials, including hole potting compound kits, cut shape metallic foils and meshes for lightning strike protection/EMI shielding, honeycomb and foam core products, and kitted co-bonded films.