Twin Vee PowerCats (NASDAQ:VEEE) Posts Earnings Results

by · The Markets Daily

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

Twin Vee PowerCats Stock Down 7.5%

Shares of NASDAQ:VEEE traded down $0.69 during midday trading on Friday, hitting $8.50. The stock had a trading volume of 68,965 shares, compared to its average volume of 6,677,004. The company’s 50-day moving average price is $11.07 and its 200-day moving average price is $17.21. The company has a market capitalization of $4.50 million, a P/E ratio of -0.06 and a beta of 0.96. Twin Vee PowerCats has a fifty-two week low of $4.16 and a fifty-two week high of $128.02.

Wall Street Analysts Forecast Growth

VEEE has been the topic of a number of analyst reports. Wall Street Zen downgraded Twin Vee PowerCats from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. Weiss Ratings raised Twin Vee PowerCats from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Twin Vee PowerCats presently has an average rating of “Sell”.

Check Out Our Latest Stock Analysis on Twin Vee PowerCats

Insider Buying and Selling

In other Twin Vee PowerCats news, major shareholder Financial Lp Hrt sold 49,505 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $18.12, for a total transaction of $897,030.60. Following the completion of the transaction, the insider directly owned 5,523 shares in the company, valued at $100,076.76. The trade was a 89.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 18.20% of the stock is currently owned by corporate 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 bought a new stake in Twin Vee PowerCats, Co. (NASDAQ:VEEE – Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 24,370 shares of the company’s stock, valued at approximately $67,000. Two Sigma Investments LP owned about 1.09% of Twin Vee PowerCats as of its most recent SEC filing. 15.57% of the stock is currently owned by institutional investors and hedge funds.

Twin Vee PowerCats Company Profile

(Get Free Report)

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.

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