Twin Vee PowerCats, Co. (NASDAQ:VEEE) Sees Significant Decrease in Short Interest

Twin Vee PowerCats, Co. (NASDAQ:VEEE) was the recipient of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totaling 7,041 shares, a decrease of 67.1% from the June 15th total of 21,409 shares. Currently, 1.6% of the company’s shares are sold short. Based on an average daily volume of 31,141 shares, the days-to-cover ratio is presently 0.2 days.

Analyst Ratings Changes

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

Twin Vee PowerCats Stock Up 415.4%

VEEE opened at $24.84 on Tuesday. The firm has a market capitalization of $13.17 million, a P/E ratio of -0.19 and a beta of 1.08. The firm’s 50 day moving average is $6.44 and its 200-day moving average is $23.19. Twin Vee PowerCats has a 52-week low of $4.16 and a 52-week high of $128.02.

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

Institutional Investors Weigh In On Twin Vee PowerCats

Institutional investors have recently made changes to their positions in the company. Everstar Asset Management LLC acquired a new position in shares of Twin Vee PowerCats in the 1st quarter valued at about $64,000. Two Sigma Investments LP acquired a new position in Twin Vee PowerCats during the 3rd quarter valued at about $67,000. Finally, Keebeck Wealth Management bought a new stake in shares of Twin Vee PowerCats during the first quarter valued at approximately $103,000. 15.57% of the stock is currently owned by institutional investors.

Twin Vee PowerCats News Roundup

Here are the key news stories impacting Twin Vee PowerCats this week:

• Positive Sentiment: Twin Vee announced a definitive merger agreement that will combine the public company with a USFM Corporation subsidiary while privatizing its marine business, which could create a new valuation framework for shareholders. Twin Vee PowerCats Co. Announces Strategic Merger and Concurrent Privatization of its Recreational Marine Business
• Neutral Sentiment: Trading in VEEE was halted multiple times for LULD pauses and a news-pending halt, reflecting unusually heavy volatility following the announcement.
• Negative Sentiment: Two shareholder rights law firms announced investigations into whether the merger delivered a fair price and whether Twin Vee’s board violated federal securities laws, which could add legal overhang. VEEE Stock Alert: Halper Sadeh LLC is Investigating Whether Twin Vee PowerCats Co. is Obtaining a Fair Price for its Shareholders
• Negative Sentiment: Monteverde & Associates also said it is investigating Twin Vee’s merger with USFM Corporation, increasing the risk of litigation headlines. HAREHOLDER ALERT: The M&A Class Action Firm Announces An Investigation of Twin Vee PowerCats Co. (NASDAQ: VEEE)

About Twin Vee PowerCats

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.