Short Interest in Twin Vee PowerCats, Co. (NASDAQ:VEEE) Decreases By 88.6%

Twin Vee PowerCats, Co. (NASDAQ:VEEE) was the recipient of a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 45,078 shares, a decline of 88.6% from the April 30th total of 394,355 shares. Based on an average daily volume of 629,867 shares, the days-to-cover ratio is presently 0.1 days. Approximately 10.4% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of research firms have commented on VEEE. 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. Wall Street Zen cut shares of Twin Vee PowerCats from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Twin Vee PowerCats currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Twin Vee PowerCats

A number of institutional investors have recently modified their holdings of the business. Two Sigma Investments LP bought a new stake in Twin Vee PowerCats in the third quarter valued at approximately $67,000. Everstar Asset Management LLC bought a new stake in Twin Vee PowerCats in the first quarter valued at approximately $64,000. Finally, Keebeck Wealth Management bought a new stake in Twin Vee PowerCats in the first quarter valued at approximately $103,000. Institutional investors own 15.57% of the company’s stock.

Twin Vee PowerCats Stock Down 0.1%

Shares of Twin Vee PowerCats stock traded down $0.01 during trading on Friday, reaching $7.12. The company’s stock had a trading volume of 17,616 shares, compared to its average volume of 189,244. The business’s 50-day moving average price is $8.61 and its 200-day moving average price is $38.09. The firm has a market cap of $3.77 million, a PE ratio of -0.05 and a beta of 0.94. Twin Vee PowerCats has a 52 week low of $5.00 and a 52 week high of $128.02.

Twin Vee PowerCats (NASDAQ:VEEE) last announced its earnings results on Thursday, May 7th. The company reported ($12.93) earnings per share (EPS) for the quarter. The business 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%.

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.