Velocity Composites (LON:VEL) Releases Quarterly Earnings Results

Velocity Composites (LON:VEL) announced its quarterly earnings results on Wednesday. The company reported GBX (1.58) (($0.02)) earnings per share (EPS) for the quarter, Digital Look Earnings reports. Velocity Composites had a negative net margin of 11.83% and a negative return on equity of 59.20%.

Velocity Composites Stock Performance

Shares of LON:VEL opened at GBX 30 ($0.37) on Wednesday. The firm has a 50 day moving average of GBX 26.04 and a 200 day moving average of GBX 32.79. 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 company has a market capitalization of £16.04 million, a price-to-earnings ratio of -375.00 and a beta of 1.53. Velocity Composites has a 52 week low of GBX 19.60 ($0.24) and a 52 week high of GBX 48 ($0.60).

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 60 ($0.75) target price on shares of Velocity Composites in a report on Thursday, December 12th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 60 ($0.75) price objective on shares of Velocity Composites in a research note on Thursday, December 12th.

Insider Buying and Selling at Velocity Composites

In other news, insider Jonathan Karl Bridges sold 150,000 shares of Velocity Composites stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of GBX 25 ($0.31), for a total value of £37,500 ($46,659.20). Insiders own 40.10% of the company’s stock.

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.