Velocity Composites (LON:VEL) PT Lowered to GBX 60

Velocity Composites (LON:VEL) had its target price lowered by Canaccord Genuity Group from GBX 70 ($0.92) to GBX 60 ($0.79) in a report issued on Wednesday, Marketbeat reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 48.15% from the company’s current price.

Velocity Composites Price Performance

Shares of LON:VEL opened at GBX 40.50 ($0.54) on Wednesday. The firm has a 50 day simple moving average of GBX 42.74 and a 200 day simple moving average of GBX 37.91. The company has a market cap of £21.66 million, a price-to-earnings ratio of -506.25 and a beta of 1.53. Velocity Composites has a one year low of GBX 28 ($0.37) and a one year high of GBX 48 ($0.63). The company has a debt-to-equity ratio of 50.50, a current ratio of 1.75 and a quick ratio of 2.66.

Insider Activity at Velocity Composites

In other news, insider Robert Smith bought 10,000 shares of the stock in a transaction on Monday, July 15th. The stock was acquired at an average price of GBX 4 ($0.05) per share, with a total value 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.