Velocity Composites (LON:VEL) Sets New 1-Year Low – Time to Sell?

Shares of Velocity Composites plc (LON:VEL) reached a new 52-week low during trading on Monday . The company traded as low as GBX 15.59 and last traded at GBX 16.57, with a volume of 115172 shares changing hands. The stock had previously closed at GBX 17.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group decreased their target price on shares of Velocity Composites from GBX 50 to GBX 40 and set a “buy” rating for the company in a report on Wednesday, November 5th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of GBX 50.

Velocity Composites Stock Down 2.6%

The firm has a 50-day moving average of GBX 21.04 and a two-hundred day moving average of GBX 24.27. The stock has a market capitalization of £9.06 million, a price-to-earnings ratio of -12.09 and a beta of 1.53. The company has a quick ratio of 2.66, a current ratio of 1.63 and a debt-to-equity ratio of 47.56.

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.