Velocity Composites (LON:VEL) Shares Down 5.6% – Time to Sell?

Shares of Velocity Composites plc (LON:VEL) fell 5.6% during trading on Tuesday . The stock traded as low as GBX 15 and last traded at GBX 15.11. 152,319 shares were traded during mid-day trading, an increase of 131% from the average session volume of 66,010 shares. The stock had previously closed at GBX 16.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 40 target price on shares of Velocity Composites in a research note on Tuesday, January 27th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of GBX 40.

Velocity Composites Trading Down 5.6%

The business’s fifty day moving average price is GBX 16.34 and its 200 day moving average price is GBX 19.13. The company has a quick ratio of 2.66, a current ratio of 1.63 and a debt-to-equity ratio of 47.56. The firm has a market capitalization of £8.26 million, a PE ratio of -7.56 and a beta of 1.53.

Velocity Composites (LON:VEL) last announced its earnings results on Tuesday, January 27th. The company reported GBX (2) earnings per share (EPS) for the quarter. Velocity Composites had a negative return on equity of 40.18% and a negative net margin of 11.83%. As a group, analysts expect that Velocity Composites plc will post 0.7403055 EPS for the current fiscal year.

Insider Activity

In related news, insider Jonathan Karl Bridges sold 333,333 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of GBX 15, for a total value of £49,999.95. 15.21% of the stock is owned by company insiders.

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. 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.