Canaccord Genuity Group Lowers Velocity Composites (LON:VEL) Price Target to GBX 60

Velocity Composites (LON:VEL) had its target price trimmed by Canaccord Genuity Group from GBX 70 ($0.92) to GBX 60 ($0.79) in a research report released on Wednesday morning, Marketbeat reports. The firm currently has a buy rating on the stock.

Velocity Composites Trading Down 3.7 %

LON:VEL opened at GBX 39 ($0.52) on Wednesday. The company has a market cap of £20.85 million, a PE ratio of -487.50 and a beta of 1.53. The company has a debt-to-equity ratio of 50.50, a current ratio of 1.75 and a quick ratio of 2.66. Velocity Composites has a one year low of GBX 28 ($0.37) and a one year high of GBX 48 ($0.63). The firm has a 50-day moving average of GBX 42.65 and a 200-day moving average of GBX 38.02.

Insiders Place Their Bets

In other Velocity Composites news, insider Robert Smith bought 10,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was purchased at an average cost of GBX 4 ($0.05) per share, with a total value of £400 ($528.40). 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.