Twin Vee PowerCats (NASDAQ:VEEE) Releases Earnings Results

Twin Vee PowerCats (NASDAQ:VEEE) announced its earnings results on Thursday. The company reported ($5.07) earnings per share (EPS) for the quarter, Zacks reports. Twin Vee PowerCats had a negative net margin of 59.92% and a negative return on equity of 51.34%. The firm had revenue of $3.13 million during the quarter.

Twin Vee PowerCats Stock Performance

NASDAQ VEEE traded down $0.69 during trading hours on Friday, hitting $8.50. 68,965 shares of the company traded hands, compared to its average volume of 6,677,004. The business’s 50-day moving average is $11.07 and its 200-day moving average is $17.21. The stock has a market capitalization of $4.50 million, a price-to-earnings ratio of -0.06 and a beta of 0.96. Twin Vee PowerCats has a twelve month low of $4.16 and a twelve month high of $128.02.

Insider Buying and Selling at Twin Vee PowerCats

In other news, major shareholder Financial Lp Hrt sold 49,505 shares of the company’s stock in a transaction that occurred 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 sale, the insider owned 5,523 shares in the company, valued at $100,076.76. This represents a 89.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 18.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Twin Vee PowerCats

An institutional investor recently bought a new stake in Twin Vee PowerCats stock. Two Sigma Investments LP purchased a new position in shares of Twin Vee PowerCats, Co. (NASDAQ:VEEE) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,370 shares of the company’s stock, valued at approximately $67,000. Two Sigma Investments LP owned approximately 1.09% of Twin Vee PowerCats at the end of the most recent quarter. 15.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VEEE has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of Twin Vee PowerCats from a “hold” rating to a “sell” rating in a report 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, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

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.