Shares of Velocity Composites plc (LON:VEL – Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as GBX 24 ($0.31) and last traded at GBX 25 ($0.32), with a volume of 321673 shares traded. The stock had previously closed at GBX 23.16 ($0.30).
Wall Street Analyst Weigh In
Separately, Canaccord Genuity Group reduced their target price on shares of Velocity Composites from GBX 70 ($0.90) to GBX 60 ($0.77) and set a “buy” rating for the company in a research report on Wednesday, September 18th.
Read Our Latest Report on Velocity Composites
Velocity Composites Price Performance
Insider Buying and Selling
In related news, insider Jonathan Karl Bridges sold 150,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of GBX 25 ($0.32), for a total value of £37,500 ($48,256.34). In other Velocity Composites news, insider Jonathan Karl Bridges sold 150,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of GBX 25 ($0.32), for a total transaction of £37,500 ($48,256.34). Also, insider Robert Smith acquired 20,000 shares of the stock in a transaction on Friday, October 4th. The shares were purchased at an average cost of GBX 35 ($0.45) per share, with a total value of £7,000 ($9,007.85). 40.10% of the stock is currently owned by 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.
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