Velocity Composites (LON:VEL) Shares Up 14.2% – Still a Buy?

Velocity Composites plc (LON:VEL)’s share price was up 14.2% during trading on Wednesday . The stock traded as high as GBX 33.67 ($0.42) and last traded at GBX 32.56 ($0.40). Approximately 177,282 shares were traded during trading, an increase of 61% from the average daily volume of 109,888 shares. The stock had previously closed at GBX 28.50 ($0.35).

Analyst Ratings Changes

A number of brokerages recently issued reports on VEL. Canaccord Genuity Group restated a “buy” rating and issued a GBX 60 ($0.75) price target on shares of Velocity Composites in a research note on Thursday, December 12th. Canaccord Genuity Group reissued a “buy” rating and issued a GBX 60 ($0.75) target price on shares of Velocity Composites in a research report on Thursday, December 12th.

Velocity Composites Trading Up 0.8 %

The company has a current ratio of 1.75, a quick ratio of 2.66 and a debt-to-equity ratio of 50.50. The company has a market cap of £16.98 million, a price-to-earnings ratio of -396.88 and a beta of 1.53. The firm has a 50-day moving average price of GBX 26.43 and a 200 day moving average price of GBX 32.78.

Velocity Composites (LON:VEL) last released its quarterly earnings data on Wednesday, January 29th. The company reported GBX (1.58) (($0.02)) EPS for the quarter. Velocity Composites had a negative return on equity of 59.20% and a negative net margin of 11.83%. As a group, sell-side 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.