Velocity Composites’ (VEL) “Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Velocity Composites (LON:VEL) in a research note published on Thursday, Marketbeat.com reports. Canaccord Genuity Group currently has a GBX 60 ($0.76) price target on the stock.

Velocity Composites Price Performance

Velocity Composites stock opened at GBX 27 ($0.34) on Thursday. The stock has a market cap of £14.44 million, a price-to-earnings ratio of -337.50 and a beta of 1.53. The company has a quick ratio of 2.66, a current ratio of 1.75 and a debt-to-equity ratio of 50.50. The business has a 50-day simple moving average of GBX 25.35 and a 200 day simple moving average of GBX 35.31. Velocity Composites has a 52 week low of GBX 19.60 ($0.25) and a 52 week high of GBX 48 ($0.61).

Insider Activity at Velocity Composites

In other news, insider Robert Smith bought 20,000 shares of Velocity Composites stock in a transaction that occurred on Friday, October 4th. The shares were acquired at an average price of GBX 35 ($0.44) per share, with a total value of £7,000 ($8,835.04). Also, insider Jonathan Karl Bridges sold 150,000 shares of Velocity Composites stock in a transaction dated Friday, November 1st. The stock was sold at an average price of GBX 25 ($0.32), for a total value of £37,500 ($47,330.56). 40.10% of the stock is currently owned by 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.