Shares of Velocys PLC (LON:VLS) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $3.71 and traded as low as $3.33. Velocys shares last traded at $3.95, with a volume of 79,141 shares trading hands.
Separately, Numis Securities reissued a “buy” rating and issued a GBX 28 ($0.37) price objective on shares of Velocys in a report on Wednesday, May 15th.
The company has a quick ratio of 1.47, a current ratio of 2.29 and a debt-to-equity ratio of 5.33. The firm’s fifty day moving average is GBX 3.72. The stock has a market capitalization of $16.01 million and a price-to-earnings ratio of -0.44.
Velocys plc, a renewable fuels company, focuses on the production of renewable jet and diesel fuels from forestry by-products for road transport and aviation industries primarily in the United States. Velocys plc has a collaboration with British Airways Plc and Royal Dutch Shell plc for the development of a waste-to-jet-fuel project in the United Kingdom.
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