Shares of Velocys PLC (LON:VLS) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $3.46 and traded as high as $3.15. Velocys shares last traded at $3.08, with a volume of 229,710 shares changing hands.
Separately, Numis Securities reaffirmed a “buy” rating on shares of Velocys in a report on Thursday, June 6th.
The company has a debt-to-equity ratio of 5.33, a quick ratio of 1.47 and a current ratio of 2.29. The company’s fifty day simple moving average is GBX 3.45. The firm has a market capitalization of $12.62 million and a P/E ratio of -0.35.
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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