Insider Selling: Twin Vee PowerCats (NASDAQ:VEEE) Major Shareholder Sells $897,030.60 in Stock

Twin Vee PowerCats, Co. (NASDAQ:VEEE) major shareholder Financial Lp Hrt sold 49,505 shares of Twin Vee PowerCats stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $18.12, for a total value of $897,030.60. Following the transaction, the insider owned 5,523 shares of the company’s stock, valued at $100,076.76. This trade represents a 89.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Twin Vee PowerCats Stock Performance

VEEE traded down $1.96 during midday trading on Wednesday, reaching $12.94. 176,185 shares of the company were exchanged, compared to its average volume of 1,097,762. The company has a market cap of $6.86 million, a price-to-earnings ratio of -0.10 and a beta of 1.08. Twin Vee PowerCats, Co. has a one year low of $4.16 and a one year high of $128.02. The company’s fifty day moving average price is $10.43 and its 200 day moving average price is $19.82.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VEEE. Everstar Asset Management LLC purchased a new stake in Twin Vee PowerCats in the 1st quarter worth about $64,000. Two Sigma Investments LP purchased a new stake in Twin Vee PowerCats during the third quarter valued at about $67,000. Finally, Keebeck Wealth Management purchased a new stake in Twin Vee PowerCats during the first quarter valued at about $103,000. Hedge funds and other institutional investors 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.