Canaccord Genuity Group Reiterates Buy Rating for Velocity Composites (LON:VEL)

Canaccord Genuity Group reiterated their buy rating on shares of Velocity Composites (LON:VEL) in a research report released on Thursday morning, MarketBeat.com reports. They currently have a GBX 60 ($0.76) target price on the stock.

Velocity Composites Stock Up 6.7 %

Shares of Velocity Composites stock opened at GBX 27 ($0.34) on Thursday. The company has a debt-to-equity ratio of 50.50, a quick ratio of 2.66 and a current ratio of 1.75. Velocity Composites has a 52-week low of GBX 19.60 ($0.25) and a 52-week high of GBX 48 ($0.61). The company’s 50 day moving average price is GBX 25.35 and its 200-day moving average price is GBX 35.31. The stock has a market capitalization of £14.44 million, a price-to-earnings ratio of -337.50 and a beta of 1.53.

Insiders Place Their Bets

In other Velocity Composites news, insider Jonathan Karl Bridges sold 150,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of GBX 25 ($0.32), for a total value of £37,500 ($47,330.56). Also, insider Robert Smith acquired 20,000 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was acquired at an average price of GBX 35 ($0.44) per share, for a total transaction of £7,000 ($8,835.04). 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.