Velocity Composites (LON:VEL) Stock Price Down 7.2% – Time to Sell?

Shares of Velocity Composites plc (LON:VEL) dropped 7.2% on Tuesday . The stock traded as low as GBX 20 ($0.25) and last traded at GBX 20.88 ($0.26). Approximately 117,898 shares changed hands during mid-day trading, an increase of 191% from the average daily volume of 40,545 shares. The stock had previously closed at GBX 22.50 ($0.29).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group dropped their price target on shares of Velocity Composites from GBX 70 ($0.89) to GBX 60 ($0.76) and set a “buy” rating on the stock in a research note on Wednesday, September 18th.

Velocity Composites Stock Performance

The firm has a market cap of £11.76 million, a price-to-earnings ratio of -273.80 and a beta of 1.53. The company has a quick ratio of 2.66, a current ratio of 1.75 and a debt-to-equity ratio of 50.50. The company has a 50 day moving average of GBX 29.05 and a 200 day moving average of GBX 36.89.

Insiders Place Their Bets

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 shares were sold at an average price of GBX 25 ($0.32), for a total transaction of £37,500 ($47,540.57). Also, insider Robert Smith bought 20,000 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was bought at an average price of GBX 35 ($0.44) per share, for a total transaction of £7,000 ($8,874.24). 40.10% of the stock is owned by company 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.