Short Interest in Twin Vee PowerCats, Co. (NASDAQ:VEEE) Drops By 86.5%

Twin Vee PowerCats, Co. (NASDAQ:VEEE) saw a large drop in short interest in 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. Based on an average daily trading volume, of 2,003,834 shares, the short-interest ratio is currently 0.0 days. Approximately 7.3% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on VEEE shares. Weiss Ratings upgraded Twin Vee PowerCats from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 22nd. Wall Street Zen cut shares of Twin Vee PowerCats from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. One 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 Stock Up 22.9%

Shares of VEEE opened at $12.78 on Wednesday. Twin Vee PowerCats has a twelve month low of $4.16 and a twelve month high of $128.02. The company has a market capitalization of $7.28 million, a P/E ratio of -0.12 and a beta of 0.96. The firm has a 50 day moving average of $11.26 and a 200 day moving average of $16.29.

Twin Vee PowerCats (NASDAQ:VEEE) last released its quarterly earnings data on Thursday, August 6th. The company reported ($5.07) earnings per share (EPS) for the quarter. Twin Vee PowerCats had a negative net margin of 76.31% and a negative return on equity of 66.47%. The business had revenue of $3.13 million during the quarter.

Insider Transactions at Twin Vee PowerCats

In other Twin Vee PowerCats news, major shareholder Financial Lp Hrt sold 49,505 shares of Twin Vee PowerCats stock in a transaction on Monday, July 27th. The stock was 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Keebeck Wealth Management purchased a new stake in shares of Twin Vee PowerCats during the second quarter valued at $56,000. Two Sigma Investments LP bought a new stake in Twin Vee PowerCats in the 3rd quarter worth about $67,000. Finally, Everstar Asset Management LLC purchased a new position in Twin Vee PowerCats in the 1st quarter worth about $64,000. 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.