Canaccord Genuity Group Initiates Coverage on Velocity Composites (LON:VEL)

Equities research analysts at Canaccord Genuity Group initiated coverage on shares of Velocity Composites (LON:VELGet Free Report) in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm set a “buy” rating and a GBX 70 ($0.89) price target on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 77.22% from the company’s current price.

Velocity Composites Price Performance

Velocity Composites stock opened at GBX 39.50 ($0.50) on Wednesday. The company has a quick ratio of 2.66, a current ratio of 1.72 and a debt-to-equity ratio of 55.04. The firm has a market cap of £21.12 million, a price-to-earnings ratio of -499.25 and a beta of 1.60. The business’s 50-day moving average price is GBX 33.05 and its 200 day moving average price is GBX 35.31. Velocity Composites has a 52 week low of GBX 28 ($0.36) and a 52 week high of GBX 57 ($0.72).

Insider Activity

In other Velocity Composites news, insider Andrew Beaden purchased 100,000 shares of the stock in a transaction dated Monday, April 8th. The shares were acquired at an average cost of GBX 30 ($0.38) per share, for a total transaction of £30,000 ($38,129.13). Company insiders own 47.74% of the company’s stock.

About Velocity Composites

(Get Free Report)

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.

Further Reading

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