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

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Twin Vee PowerCats in a report on Wednesday, August 19th. Wall Street Zen downgraded shares of Twin Vee PowerCats from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Twin Vee PowerCats Trading Down 4.4%

NASDAQ VEEE traded down $0.40 during trading on Wednesday, reaching $8.60. The company’s stock had a trading volume of 10,539 shares, compared to its average volume of 902,138. The firm has a 50 day moving average price of $13.53 and a 200 day moving average price of $10.33. Twin Vee PowerCats has a 12 month low of $4.16 and a 12 month high of $127.65. The firm has a market capitalization of $4.99 million, a price-to-earnings ratio of -0.08 and a beta of 0.96.

Twin Vee PowerCats (NASDAQ:VEEE) last posted its quarterly earnings data 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 firm had revenue of $3.13 million for the quarter.

Insider Activity

In related news, major shareholder Financial Lp Hrt sold 49,505 shares of the firm’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 transaction, the insider owned 5,523 shares of the company’s stock, valued at approximately $100,076.76. This trade 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 accessible through this hyperlink. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Twin Vee PowerCats stock. Keebeck Wealth Management acquired a new position in shares of Twin Vee PowerCats, Co. (NASDAQ:VEEE) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 400,000 shares of the company’s stock, valued at approximately $103,000. Keebeck Wealth Management owned about 173.91% of Twin Vee PowerCats as of its most recent SEC filing. 15.57% of the stock is currently owned by institutional investors.

Twin Vee PowerCats Company Profile

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.