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

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Weiss Ratings upgraded shares of Twin Vee PowerCats from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 22nd. Wall Street Zen downgraded Twin Vee PowerCats from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Twin Vee PowerCats presently has an average rating of “Sell”.

Twin Vee PowerCats Stock Performance

Shares of VEEE traded down $0.54 during mid-day trading on Thursday, reaching $11.96. 95,898 shares of the company were exchanged, compared to its average volume of 1,321,947. The business has a 50 day simple moving average of $11.50 and a two-hundred day simple moving average of $15.64. The stock has a market capitalization of $6.82 million, a PE ratio of -0.11 and a beta of 0.96. Twin Vee PowerCats has a 52 week low of $4.16 and a 52 week high of $128.02.

Twin Vee PowerCats (NASDAQ:VEEE) last announced its earnings results on Thursday, August 6th. The company reported ($5.07) EPS for the quarter. The company had revenue of $3.13 million during 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

In related news, major shareholder Financial Lp Hrt sold 49,505 shares of Twin Vee PowerCats stock in a transaction that occurred 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 sale, the insider directly owned 5,523 shares in the company, valued at $100,076.76. This trade 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 hyperlink. 18.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Twin Vee PowerCats

A number of institutional investors have recently modified their holdings of the company. Keebeck Wealth Management bought a new position in Twin Vee PowerCats during the first quarter worth $103,000. Everstar Asset Management LLC acquired a new position in Twin Vee PowerCats in the first quarter valued at $64,000. Finally, Two Sigma Investments LP bought a new stake in Twin Vee PowerCats during the third quarter valued at $67,000. 15.57% of the stock is 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.