Twin Vee PowerCats (NASDAQ:VEEE) Announces Earnings Results

Twin Vee PowerCats (NASDAQ:VEEE) posted its earnings results on Thursday. The company reported ($12.93) earnings per share for the quarter, Zacks reports. Twin Vee PowerCats had a negative net margin of 58.08% and a negative return on equity of 44.68%. The firm had revenue of $3.96 million during the quarter.

Twin Vee PowerCats Stock Performance

VEEE stock traded up $0.42 on Thursday, reaching $6.43. The company had a trading volume of 2,195,861 shares, compared to its average volume of 235,168. The company’s fifty day moving average is $10.85 and its 200 day moving average is $46.26. The company has a market cap of $1.48 million, a P/E ratio of -0.04 and a beta of 0.94. Twin Vee PowerCats has a 1 year low of $5.00 and a 1 year high of $344.10.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Twin Vee PowerCats in a research report on Monday, April 20th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Hedge Funds Weigh In On Twin Vee PowerCats

A hedge fund recently bought a new stake in Twin Vee PowerCats stock. Two Sigma Investments LP acquired a new stake in shares of Twin Vee PowerCats, Co. (NASDAQ:VEEE) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 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

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.