Velocity Composites (LON:VEL) Hits New 52-Week Low – Here’s What Happened

Velocity Composites plc (LON:VEL) reached a new 52-week low during trading on Wednesday . The stock traded as low as GBX 13 and last traded at GBX 13.50, with a volume of 23197 shares. The stock had previously closed at GBX 13.25.

Analysts Set New Price Targets

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

Velocity Composites Stock Up 1.4%

The company has a market cap of £6.93 million, a P/E ratio of -6.34 and a beta of 1.53. The stock’s 50-day moving average price is GBX 15.42 and its 200-day moving average price is GBX 17.29. The company has a current ratio of 1.49, a quick ratio of 2.66 and a debt-to-equity ratio of 69.71.

Velocity Composites (LON:VEL) last released its quarterly earnings data 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 20.69% and a negative net margin of 5.24%. As a group, research analysts forecast that Velocity Composites plc will post 0.7403055 EPS for the current year.

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.