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

Canaccord Genuity Group reiterated their buy rating on shares of Velocity Composites (LON:VEL) in a research note released on Tuesday, Marketbeat Ratings reports. Canaccord Genuity Group currently has a GBX 40 price target on the stock.

Velocity Composites Price Performance

Shares of VEL opened at GBX 18.80 on Tuesday. Velocity Composites has a fifty-two week low of GBX 13 and a fifty-two week high of GBX 37.52. The firm’s 50-day simple moving average is GBX 16.08 and its two-hundred day simple moving average is GBX 19.96. The stock has a market cap of £10.28 million, a PE ratio of -13.72 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 earnings results on Tuesday, January 27th. The company reported GBX (2) EPS for the quarter. Velocity Composites had a negative return on equity of 40.18% and a negative net margin of 11.83%. Analysts anticipate that Velocity Composites will post 0.7403055 earnings per share for the current fiscal year.

Insider Activity at Velocity Composites

In related news, insider Jonathan Karl Bridges sold 333,333 shares of Velocity Composites stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of GBX 15, for a total value of £49,999.95. 15.21% 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. 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.