Twin Vee PowerCats (NASDAQ:VEEE) Releases Earnings Results

Twin Vee PowerCats (NASDAQ:VEEE) posted its earnings results on Thursday. The company reported ($5.19) earnings per share for the quarter, FiscalAI reports. Twin Vee PowerCats had a negative net margin of 76.31% and a negative return on equity of 67.71%. The company had revenue of $2.77 million during the quarter.

Twin Vee PowerCats Trading Down 10.3%

Shares of Twin Vee PowerCats stock opened at $8.15 on Friday. The business’s fifty day simple moving average is $10.23 and its 200 day simple moving average is $14.95. Twin Vee PowerCats has a 12 month low of $4.16 and a 12 month high of $127.65. The firm has a market capitalization of $4.76 million, a P/E ratio of -0.08 and a beta of 0.91.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Twin Vee PowerCats stock. Keebeck Wealth Management bought a new stake in shares of Twin Vee PowerCats, Co. (NASDAQ:VEEE) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 400,000 shares of the company’s stock, valued at approximately $103,000. Keebeck Wealth Management owned about 173.91% of Twin Vee PowerCats at the end of the most recent reporting period. 15.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on VEEE. Wall Street Zen downgraded shares of Twin Vee PowerCats from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Twin Vee PowerCats in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Twin Vee PowerCats Company Profile

Twin Vee PowerCats Co is a recreational and commercial boat manufacturer headquartered in Fort Pierce, Florida. The company designs, manufactures and sells power catamaran boats known for their stability, fuel efficiency and suitability for offshore use.

Twin Vee’s product lineup includes boats intended for saltwater fishing, cruising, family recreation and other boating activities. The company markets its vessels under the Twin Vee brand and has also expanded its portfolio through the AquaSport brand, which offers monohull fishing and family-oriented boats.

Twin Vee sells its products through a network of independent marine dealers serving customers in the United States and select international markets.