Twin Vee PowerCats, Co. (NASDAQ:VEEE) Short Interest Update

Twin Vee PowerCats, Co. (NASDAQ:VEEE) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 28,255 shares, a decline of 41.1% from the August 15th total of 47,950 shares. Based on an average trading volume of 29,292 shares, the days-to-cover ratio is currently 1.0 days. Approximately 5.1% of the company’s stock are sold short.

Analysts Set New Price Targets

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

Insider Activity at Twin Vee PowerCats

In related news, major shareholder Financial Lp Hrt sold 49,505 shares of the business’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $18.12, for a total transaction of $897,030.60. Following the completion of the transaction, the insider owned 5,523 shares in the company, valued at approximately $100,076.76. The trade was a 89.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Twin Vee PowerCats stock. Keebeck Wealth Management acquired a new stake in shares of Twin Vee PowerCats, Co. (NASDAQ:VEEE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,811 shares of the company’s stock, valued at approximately $56,000. Keebeck Wealth Management owned 1.90% of Twin Vee PowerCats at the end of the most recent reporting period. Institutional investors and hedge funds own 15.57% of the company’s stock.

Twin Vee PowerCats Stock Performance

Shares of VEEE traded down $0.25 during trading hours on Friday, hitting $8.51. The stock had a trading volume of 1,453 shares, compared to its average volume of 892,146. Twin Vee PowerCats has a 12-month low of $4.16 and a 12-month high of $127.65. The firm has a market cap of $4.97 million, a P/E ratio of -0.08 and a beta of 0.96. The company’s fifty day simple moving average is $13.69 and its 200 day simple moving average is $10.22.

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

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.