Twin Vee PowerCats, Co. (NASDAQ:VEEE) Sees Large Decline in Short Interest

Twin Vee PowerCats, Co. (NASDAQ:VEEE) was the target of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totaling 394,355 shares, a decrease of 49.2% from the April 15th total of 775,961 shares. Based on an average daily volume of 1,220,646 shares, the short-interest ratio is presently 0.3 days. Approximately 206.5% of the company’s shares are sold short.

Analyst Ratings Changes

Several equities research analysts recently commented on VEEE shares. Wall Street Zen downgraded Twin Vee PowerCats from a “hold” rating to a “sell” rating in a report on Sunday. Weiss Ratings cut Twin Vee PowerCats from a “sell (e+)” rating to a “sell (e)” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Institutional Investors Weigh In On Twin Vee PowerCats

Several hedge funds have recently made changes to their positions in VEEE. Two Sigma Investments LP acquired a new stake in shares of Twin Vee PowerCats during the 3rd quarter worth approximately $67,000. Keebeck Wealth Management bought a new position in shares of Twin Vee PowerCats during the 1st quarter worth approximately $103,000. Finally, Everstar Asset Management LLC bought a new position in shares of Twin Vee PowerCats during the first quarter valued at $64,000. Institutional investors own 15.57% of the company’s stock.

Twin Vee PowerCats Stock Up 3.0%

VEEE stock traded up $0.20 during midday trading on Friday, hitting $6.76. 51,422 shares of the company traded hands, compared to its average volume of 379,868. The stock has a market capitalization of $3.58 million, a price-to-earnings ratio of -0.05 and a beta of 0.94. Twin Vee PowerCats has a twelve month low of $5.00 and a twelve month high of $128.02. The business has a 50 day simple moving average of $9.88 and a 200-day simple moving average of $43.23.

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

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.