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

Twin Vee PowerCats, Co. (NASDAQ:VEEE) was the recipient of a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 34,533 shares, a decrease of 86.5% from the July 15th total of 255,484 shares. Based on an average trading volume of 2,003,834 shares, the days-to-cover ratio is currently 0.0 days. Approximately 7.3% of the company’s shares are sold short.

Twin Vee PowerCats Stock Performance

NASDAQ VEEE traded down $0.03 on Friday, hitting $11.94. 24,193 shares of the stock traded hands, compared to its average volume of 1,027,343. The business’s fifty day moving average is $11.50 and its two-hundred day moving average is $15.64. Twin Vee PowerCats has a 12 month low of $4.16 and a 12 month high of $128.02. The firm has a market capitalization of $6.80 million, a price-to-earnings ratio of -0.11 and a beta of 0.96.

Twin Vee PowerCats (NASDAQ:VEEE) last released its quarterly earnings data on Thursday, August 6th. The company reported ($5.07) EPS for the quarter. The business had revenue of $3.13 million for the quarter. Twin Vee PowerCats had a negative net margin of 76.31% and a negative return on equity of 66.47%.

Insider Buying and Selling at Twin Vee PowerCats

In related news, major shareholder Financial Lp Hrt sold 49,505 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $18.12, for a total value of $897,030.60. Following the completion of 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 SEC, which is available at this hyperlink. 18.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Twin Vee PowerCats from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. Weiss Ratings raised shares of Twin Vee PowerCats from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company 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.