Twin Vee PowerCats, Co. (NASDAQ:VEEE) Short Interest Down 49.2% in April

Twin Vee PowerCats, Co. (NASDAQ:VEEE) was the target of a large drop in short interest in April. As of April 30th, there was short interest totaling 394,355 shares, a drop of 49.2% from the April 15th total of 775,961 shares. Approximately 206.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,220,646 shares, the days-to-cover ratio is presently 0.3 days.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wall Street Zen raised Twin Vee PowerCats to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings lowered shares of Twin Vee PowerCats from a “sell (e+)” rating to a “sell (e)” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Twin Vee PowerCats Price Performance

Shares of VEEE stock opened at $6.76 on Friday. The company has a market cap of $1.58 million, a PE ratio of -0.05 and a beta of 0.94. Twin Vee PowerCats has a 1 year low of $5.00 and a 1 year high of $128.02. The stock’s 50 day simple moving average is $9.88 and its two-hundred day simple moving average is $43.23.

Twin Vee PowerCats (NASDAQ:VEEE) last announced its earnings results on Thursday, May 7th. The company reported ($12.93) EPS for the quarter. The company had revenue of $3.96 million during the quarter. Twin Vee PowerCats had a negative return on equity of 51.34% and a negative net margin of 59.92%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Keebeck Wealth Management bought a new position in Twin Vee PowerCats during the first quarter valued at $103,000. Everstar Asset Management LLC bought a new stake in shares of Twin Vee PowerCats in the 1st quarter worth about $64,000. Finally, Two Sigma Investments LP purchased a new position in shares of Twin Vee PowerCats during the 3rd quarter worth about $67,000. 15.57% of the stock is owned by hedge funds and other 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.