Velocity Composites (LON:VEL) Announces Quarterly Earnings Results

Velocity Composites (LON:VEL) posted its quarterly earnings results on Tuesday. The company reported GBX (2) earnings per share for the quarter, Digital Look Earnings reports. Velocity Composites had a negative return on equity of 40.18% and a negative net margin of 11.83%.

Velocity Composites Stock Down 3.5%

Shares of LON:VEL opened at GBX 18.33 on Tuesday. The company’s fifty day moving average is GBX 16.07 and its 200-day moving average is GBX 20.01. The company has a debt-to-equity ratio of 47.56, a quick ratio of 2.66 and a current ratio of 1.63. Velocity Composites has a 52 week low of GBX 13 and a 52 week high of GBX 37.52. The company has a market capitalization of £10.02 million, a PE ratio of -13.38 and a beta of 1.53.

Insider Activity

In related news, insider Jonathan Karl Bridges sold 333,333 shares of Velocity Composites stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of GBX 15, for a total transaction of £49,999.95. 15.21% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group lowered their target price on shares of Velocity Composites from GBX 50 to GBX 40 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of GBX 40.

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. The company also offers engineered vacuum bag material kits; and honeycomb, core potting compounds, and co-bonded materials, including hole potting compound kits, cut shape metallic foils and meshes for lightning strike protection/EMI shielding, honeycomb and foam core products, and kitted co-bonded films.