Velocity Composites (LON:VEL) Sets New 52-Week Low – Time to Sell?

Velocity Composites plc (LON:VEL) reached a new 52-week low on Wednesday . The stock traded as low as GBX 15.07 and last traded at GBX 16.68, with a volume of 1804 shares changing hands. The stock had previously closed at GBX 17.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group lowered their price target on Velocity Composites from GBX 50 to GBX 40 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Velocity Composites presently has a consensus rating of “Buy” and an average price target of GBX 50.

Velocity Composites Trading Down 1.9%

The company has a market capitalization of £9.12 million, a PE ratio of -12.18 and a beta of 1.53. The company has a fifty day simple moving average of GBX 20.51 and a 200-day simple moving average of GBX 23.93. The company has a current ratio of 1.63, a quick ratio of 2.66 and a debt-to-equity ratio of 47.56.

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.