Twin Vee PowerCats (NASDAQ:VEEE) Major Shareholder Sells $897,030.60 in Stock

Twin Vee PowerCats, Co. (NASDAQ:VEEE) major shareholder Financial Lp Hrt sold 49,505 shares of the stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $18.12, for a total value of $897,030.60. Following the sale, the insider owned 5,523 shares of the company’s stock, valued at approximately $100,076.76. The trade was a 89.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Twin Vee PowerCats Stock Performance

Shares of VEEE stock traded down $1.96 during mid-day trading on Wednesday, hitting $12.94. The company’s stock had a trading volume of 176,185 shares, compared to its average volume of 1,097,762. The company has a market cap of $6.86 million, a PE ratio of -0.10 and a beta of 1.08. The company’s fifty day simple moving average is $10.43 and its 200-day simple moving average is $19.82. Twin Vee PowerCats, Co. has a 52 week low of $4.16 and a 52 week high of $128.02.

Twin Vee PowerCats (NASDAQ:VEEE) last announced its earnings results on Thursday, May 7th. The company reported ($12.93) EPS for the quarter. The business had revenue of $3.96 million for the quarter. Twin Vee PowerCats had a negative net margin of 59.92% and a negative return on equity of 51.34%.

Analysts Set New Price Targets

VEEE has been the subject of several recent analyst reports. Weiss Ratings raised shares of Twin Vee PowerCats from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, May 22nd. Wall Street Zen lowered shares of Twin Vee PowerCats from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Hedge Funds Weigh In On Twin Vee PowerCats

Large investors have recently modified their holdings of the company. Everstar Asset Management LLC bought a new stake in Twin Vee PowerCats during the 1st quarter valued at $64,000. Keebeck Wealth Management acquired a new position in Twin Vee PowerCats during the first quarter worth $103,000. Finally, Two Sigma Investments LP bought a new position in shares of Twin Vee PowerCats in the third quarter valued at $67,000. 15.57% of the stock is currently owned by institutional investors.

Twin Vee PowerCats Company Profile

Twin Vee PowerCats (NASDAQ: VEEE) is a U.S.-based designer, manufacturer and marketer of high-performance power catamarans. The company specializes in vacuum-infused fiberglass composite construction, producing vessels that combine speed, stability and fuel efficiency. Twin Vee’s product range spans models for both recreational boating enthusiasts and commercial operators, with applications including day cruising, fishing, passenger transport, law enforcement and tourism.

Founded in 1997 by Gregg Seskin and Andy Pastras, Twin Vee has built a reputation for innovation in catamaran design and marine engineering.