Velocys (VLS) Trading Down 17.2%

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Velocys PLC (LON:VLS) shares fell 17.2% during trading on Friday . The company traded as low as GBX 3.50 ($0.05) and last traded at GBX 3.50 ($0.05). 660,357 shares were traded during trading, a decline of 63% from the average session volume of 1,770,000 shares. The stock had previously closed at GBX 4.23 ($0.06).

A number of research firms have commented on VLS. Canaccord Genuity lowered their price target on Velocys from GBX 40 ($0.52) to GBX 25 ($0.33) and set a “speculative buy” rating for the company in a research report on Monday, September 10th. Numis Securities reaffirmed a “buy” rating on shares of Velocys in a research report on Monday, September 10th.

Velocys Company Profile (LON:VLS)

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. The company was formerly known as Oxford Catalysts Group PLC and changed its name to Velocys plc in September 2013.

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