Velocity Composites (LON:VEL) Trading Up 14.2% – Time to Buy?

Velocity Composites plc (LON:VEL) shares were up 14.2% during mid-day trading on Wednesday . The stock traded as high as GBX 33.67 ($0.42) and last traded at GBX 32.56 ($0.41). Approximately 177,282 shares were traded during trading, an increase of 61% from the average daily volume of 109,888 shares. The stock had previously closed at GBX 28.50 ($0.35).

Analyst Upgrades and Downgrades

VEL has been the topic of several analyst reports. Canaccord Genuity Group reaffirmed 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 reiterated a “buy” rating and issued a GBX 60 ($0.75) price target on shares of Velocity Composites in a research note on Thursday, December 12th.

Velocity Composites Trading Up 11.4 %

The company has a debt-to-equity ratio of 50.50, a current ratio of 1.75 and a quick ratio of 2.66. The business’s 50-day moving average price is GBX 26.04 and its 200-day moving average price is GBX 32.79. The firm has a market capitalization of £16.98 million, a PE ratio of -396.88 and a beta of 1.53.

Insider Buying and Selling

In related news, insider Jonathan Karl Bridges sold 150,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of GBX 25 ($0.31), for a total transaction of £37,500 ($46,659.20). Corporate insiders own 40.10% of the company’s stock.

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.