Twin Vee PowerCats (NASDAQ:VEEE) Issues Quarterly Earnings Results

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

Twin Vee PowerCats Stock Down 7.5%

Shares of VEEE traded down $0.69 during midday trading on Friday, hitting $8.50. The company’s stock had a trading volume of 68,965 shares, compared to its average volume of 6,677,004. Twin Vee PowerCats has a one year low of $4.16 and a one year high of $128.02. The stock has a market capitalization of $4.50 million, a price-to-earnings ratio of -0.06 and a beta of 0.96. The company’s fifty day simple moving average is $11.07 and its two-hundred day simple moving average is $17.21.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on VEEE. Weiss Ratings upgraded 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, Based on data from MarketBeat, Twin Vee PowerCats currently has an average rating of “Sell”.

Insider Buying and Selling at Twin Vee PowerCats

In related news, major shareholder Financial Lp Hrt sold 49,505 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $18.12, for a total value of $897,030.60. Following the sale, the insider directly owned 5,523 shares of the company’s stock, valued at $100,076.76. This trade represents a 89.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 18.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Twin Vee PowerCats stock. Two Sigma Investments LP purchased a new stake in Twin Vee PowerCats, Co. (NASDAQ:VEEE) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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. Institutional investors own 15.57% of the company’s stock.

Twin Vee PowerCats Company Profile

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.