Velocity Composites (LON:VEL) Stock Price Up 1.8% – Still a Buy?

Velocity Composites plc (LON:VEL)’s stock price rose 1.8% during trading on Wednesday . The stock traded as high as GBX 29 ($0.36) and last traded at GBX 29 ($0.36). Approximately 423,632 shares changed hands during mid-day trading, an increase of 271% from the average daily volume of 114,188 shares. The stock had previously closed at GBX 28.50 ($0.36).

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 60 ($0.76) target price on shares of Velocity Composites in a research note on Thursday, December 12th. Canaccord Genuity Group restated a “buy” rating and issued a GBX 60 ($0.76) price objective on shares of Velocity Composites in a report on Thursday, December 12th.

Velocity Composites Stock Performance

The company has a quick ratio of 2.66, a current ratio of 1.63 and a debt-to-equity ratio of 47.56. The firm has a market cap of £15.66 million, a P/E ratio of -6.50 and a beta of 1.53. The business has a fifty day simple moving average of GBX 28.72 and a 200-day simple moving average of GBX 31.30.

Velocity Composites (LON:VEL) last issued its quarterly earnings results on Wednesday, January 29th. The company reported GBX (1.58) (($0.02)) earnings per share (EPS) for the quarter. Velocity Composites had a negative return on equity of 40.18% and a negative net margin of 11.83%. On average, sell-side analysts predict that Velocity Composites plc will post 0.7403055 EPS for the current fiscal year.

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.