Canaccord Genuity Group Reiterates Buy Rating for Velocity Composites (LON:VEL)

Velocity Composites (LON:VEL)‘s stock had its “buy” rating reissued by analysts at Canaccord Genuity Group in a note issued to investors on Thursday, Marketbeat Ratings reports. They presently have a GBX 60 ($0.76) target price on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 122.22% from the company’s previous close.

Velocity Composites Stock Performance

Shares of LON:VEL opened at GBX 27 ($0.34) on Thursday. The company has a debt-to-equity ratio of 50.50, a current ratio of 1.75 and a quick ratio of 2.66. Velocity Composites has a 1 year low of GBX 19.60 ($0.25) and a 1 year high of GBX 48 ($0.61). The firm has a market capitalization of £14.44 million, a PE ratio of -337.50 and a beta of 1.53. The business’s 50 day moving average price is GBX 25.35 and its 200-day moving average price is GBX 35.34.

Insider Transactions at Velocity Composites

In related news, insider Robert Smith acquired 20,000 shares of the stock in a transaction on Friday, October 4th. The shares were bought at an average price of GBX 35 ($0.44) per share, with a total value of £7,000 ($8,835.04). Also, insider Jonathan Karl Bridges sold 150,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of GBX 25 ($0.32), for a total value of £37,500 ($47,330.56). 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.