Velocity Composites (LON:VEL) Given New GBX 60 Price Target at Canaccord Genuity Group

Velocity Composites (LON:VEL) had its price objective cut by Canaccord Genuity Group from GBX 70 ($0.92) to GBX 60 ($0.79) in a research report released on Wednesday morning, Marketbeat.com reports. They currently have a buy rating on the stock.

Velocity Composites Stock Down 1.2 %

Shares of VEL opened at GBX 40 ($0.53) on Wednesday. Velocity Composites has a one year low of GBX 28 ($0.37) and a one year high of GBX 48 ($0.63). The company has a market cap of £21.39 million, a P/E ratio of -506.25 and a beta of 1.53. 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 firm has a 50 day simple moving average of GBX 42.79 and a two-hundred day simple moving average of GBX 37.89.

Insider Transactions at Velocity Composites

In related news, insider Robert Smith purchased 10,000 shares of the stock in a transaction dated Monday, July 15th. The stock was bought at an average cost of GBX 4 ($0.05) per share, for a total transaction of £400 ($528.40). Company 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.