Velocity Composites (LON:VEL) Shares Up 2.4%

Velocity Composites plc (LON:VEL) was up 2.4% on Friday . The company traded as high as GBX 42.95 ($0.57) and last traded at GBX 42 ($0.55). Approximately 79,236 shares changed hands during mid-day trading, an increase of 107% from the average daily volume of 38,239 shares. The stock had previously closed at GBX 41 ($0.54).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group began coverage on shares of Velocity Composites in a research note on Wednesday, May 22nd. They issued a “buy” rating and a GBX 70 ($0.92) price objective on the stock.

Velocity Composites Price Performance

The stock has a 50-day moving average of GBX 41.75 and a two-hundred day moving average of GBX 37.05. The firm has a market cap of £22.46 million, a price-to-earnings ratio of -525.00 and a beta of 1.56. The company has a current ratio of 1.75, a quick ratio of 2.66 and a debt-to-equity ratio of 50.50.

Insiders Place Their Bets

In other news, insider Robert Smith acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was purchased at an average price of GBX 4 ($0.05) per share, with a total value of £400 ($527.50). Corporate insiders own 40.10% of the company’s stock.

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.