Velocity Composites (LON:VEL) Shares Up 7.9% – Still a Buy?

Velocity Composites plc (LON:VEL) shot up 7.9% during mid-day trading on Monday . The company traded as high as GBX 13.50 and last traded at GBX 13.50. 4,492 shares traded hands during trading, a decline of 93% from the average session volume of 63,746 shares. The stock had previously closed at GBX 12.51.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group restated a “buy” rating and set a GBX 40 price objective on shares of Velocity Composites in a report on Tuesday, January 27th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of GBX 40.

Velocity Composites Stock Performance

The stock has a market cap of £6.61 million, a price-to-earnings ratio of -6.05 and a beta of 1.17. The stock’s fifty day moving average is GBX 13.85 and its 200-day moving average is GBX 15.79. The company has a quick ratio of 2.66, a current ratio of 1.49 and a debt-to-equity ratio of 69.71.

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.