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

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

Wall Street Analyst Weigh In

VEEE has been the topic of several research analyst reports. Weiss Ratings upgraded shares of Twin Vee PowerCats from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, May 22nd. Wall Street Zen lowered shares of Twin Vee PowerCats from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Insider Buying and Selling

In other Twin Vee PowerCats news, major shareholder Financial Lp Hrt sold 49,505 shares of the company’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 directly owned 5,523 shares in the company, valued at approximately $100,076.76. This represents a 89.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VEEE. Keebeck Wealth Management bought a new stake in Twin Vee PowerCats during the second quarter worth about $56,000. Everstar Asset Management LLC purchased a new stake in Twin Vee PowerCats in the first quarter worth about $64,000. Finally, Two Sigma Investments LP bought a new position in shares of Twin Vee PowerCats during the third quarter valued at approximately $67,000. 15.57% of the stock is currently owned by institutional investors.

Twin Vee PowerCats Stock Up 22.9%

Shares of VEEE stock opened at $12.78 on Wednesday. The stock has a market cap of $7.28 million, a price-to-earnings ratio of -0.12 and a beta of 0.96. The business’s fifty day moving average is $11.26 and its 200 day moving average is $16.29. Twin Vee PowerCats has a twelve month low of $4.16 and a twelve month high of $128.02.

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

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.