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 the month of 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. 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 shares of the stock are short sold.

Twin Vee PowerCats Stock Performance

VEEE traded down $0.40 during mid-day trading on Wednesday, reaching $8.60. The stock had a trading volume of 10,539 shares, compared to its average volume of 902,138. Twin Vee PowerCats has a 52 week low of $4.16 and a 52 week high of $127.65. The stock has a market capitalization of $4.99 million, a P/E ratio of -0.08 and a beta of 0.96. The firm’s fifty day simple moving average is $13.53 and its two-hundred day simple moving average is $10.33.

Twin Vee PowerCats (NASDAQ:VEEE) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($5.07) earnings per share (EPS) for the quarter. The business 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 67.71%.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, major shareholder Financial Lp Hrt sold 49,505 shares of the company’s 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 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 sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Twin Vee PowerCats

A hedge fund recently bought a new stake in Twin Vee PowerCats stock. Keebeck Wealth Management bought a new position in shares of Twin Vee PowerCats, Co. (NASDAQ:VEEE) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 400,000 shares of the company’s stock, valued at approximately $103,000. Keebeck Wealth Management owned 173.91% of Twin Vee PowerCats as of its most recent filing with the SEC. Institutional investors and hedge funds own 15.57% of the company’s stock.

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.