Velocity Composites (LON:VEL) Sets New 52-Week Low on Insider Selling

Velocity Composites plc (LON:VEL) reached a new 52-week low during mid-day trading on Tuesday following insider selling activity. The company traded as low as GBX 23 ($0.30) and last traded at GBX 23.13 ($0.30), with a volume of 109641 shares traded. The stock had previously closed at GBX 24 ($0.31).

Specifically, insider Jonathan Karl Bridges sold 150,000 shares of Velocity Composites stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of GBX 25 ($0.33), for a total value of £37,500 ($48,815.41).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group decreased their target price on shares of Velocity Composites from GBX 70 ($0.91) to GBX 60 ($0.78) and set a “buy” rating for the company in a research report on Wednesday, September 18th.

Velocity Composites Stock Performance

The company has a market capitalization of £12.37 million, a price-to-earnings ratio of -289.16 and a beta of 1.53. The company has a 50 day moving average price of GBX 35.35 and a 200 day moving average price of GBX 37.89. The company has a debt-to-equity ratio of 50.50, a quick ratio of 2.66 and a current ratio of 1.75.

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.