Twin Vee PowerCats (NASDAQ:VEEE) Stock Price Down 1.2% – Here’s Why

Twin Vee PowerCats, Co. (NASDAQ:VEEE)’s stock price was down 1.2% on Wednesday. The company traded as low as $9.86 and last traded at $10.35. Approximately 20,149 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 1,586,481 shares. The stock had previously closed at $10.48.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on VEEE shares. Wall Street Zen lowered Twin Vee PowerCats from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Twin Vee PowerCats in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Twin Vee PowerCats currently has an average rating of “Sell”.

Twin Vee PowerCats Stock Performance

The stock has a 50-day simple moving average of $10.83 and a 200 day simple moving average of $10.04. The stock has a market capitalization of $5.72 million, a P/E ratio of -0.09 and a beta of 0.89.

Twin Vee PowerCats (NASDAQ:VEEE) last released its earnings results on Thursday, August 6th. The company reported ($5.07) earnings per share (EPS) for the quarter. Twin Vee PowerCats had a negative net margin of 76.31% and a negative return on equity of 67.71%. The business had revenue of $3.13 million for the quarter.

Insider Activity at Twin Vee PowerCats

In related news, major shareholder Financial Lp Hrt sold 49,505 shares of the company’s stock in a transaction 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 completion of the sale, the insider owned 5,523 shares in the company, valued at $100,076.76. This represents a 89.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Twin Vee PowerCats stock. Keebeck Wealth Management purchased a new position in shares of Twin Vee PowerCats, Co. (NASDAQ:VEEE) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 400,000 shares of the company’s stock, valued at approximately $103,000. Keebeck Wealth Management owned 173.91% of Twin Vee PowerCats at the end of the most recent reporting period. 15.57% of the stock is owned by institutional investors.

Twin Vee PowerCats Company Profile

Twin Vee PowerCats Co is a recreational boat manufacturer based in Fort Pierce, Florida. The company designs, manufactures and sells fiberglass power catamarans under the Twin Vee brand, serving recreational boaters, offshore anglers and commercial operators.

Twin Vee’s product lineup includes power catamarans in various sizes and configurations, with features intended for offshore fishing, cruising, family recreation and watersports. The company also markets boats under the AquaSport brand, which focuses primarily on center-console and other recreational vessels.