Twin Vee PowerCats (NASDAQ:VEEE) Releases Earnings Results

Twin Vee PowerCats (NASDAQ:VEEE) released its quarterly earnings results on Thursday. The company reported ($5.07) earnings per share for the quarter, Zacks reports. Twin Vee PowerCats had a negative return on equity of 51.34% and a negative net margin of 59.92%.The firm had revenue of $3.13 million during the quarter.

Twin Vee PowerCats Price Performance

VEEE traded down $0.69 during midday trading on Friday, reaching $8.50. 68,965 shares of the company’s stock were exchanged, compared to its average volume of 6,677,004. The stock has a market capitalization of $4.50 million, a PE ratio of -0.06 and a beta of 0.96. The business’s 50-day moving average price is $11.07 and its 200 day moving average price is $17.21. Twin Vee PowerCats has a 1-year low of $4.16 and a 1-year high of $128.02.

Insider Activity at Twin Vee PowerCats

In other news, major shareholder Financial Lp Hrt sold 49,505 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $18.12, for a total value of $897,030.60. Following the sale, the insider directly owned 5,523 shares in the company, valued at $100,076.76. This represents a 89.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 18.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Twin Vee PowerCats stock. Two Sigma Investments LP bought a new stake in Twin Vee PowerCats, Co. (NASDAQ:VEEE) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 24,370 shares of the company’s stock, valued at approximately $67,000. Two Sigma Investments LP owned approximately 1.09% of Twin Vee PowerCats as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 15.57% of the company’s stock.

Wall Street Analyst Weigh In

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

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.