Twin Vee PowerCats, Co. (NASDAQ:VEEE) Sees Large Growth in Short Interest

Twin Vee PowerCats, Co. (NASDAQ:VEEE) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 58,315 shares, an increase of 150.6% from the September 15th total of 23,267 shares. Currently, 10.4% of the shares of the company are short sold. Based on an average daily volume of 2,829,468 shares, the short-interest ratio is presently 0.0 days.

Twin Vee PowerCats Stock Performance

NASDAQ:VEEE opened at $8.42 on Thursday. Twin Vee PowerCats has a 52 week low of $4.16 and a 52 week high of $127.65. The firm’s 50-day simple moving average is $10.67 and its 200 day simple moving average is $9.91. The firm has a market cap of $4.88 million, a price-to-earnings ratio of -0.08 and a beta of 0.89.

Twin Vee PowerCats (NASDAQ:VEEE) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($5.07) earnings per share (EPS) for the quarter. Twin Vee PowerCats had a negative net margin of 76.31% and a negative return on equity of 67.71%. The business had revenue of $3.13 million during the quarter.

Insider Buying and Selling at Twin Vee PowerCats

In related news, major shareholder Financial Lp Hrt sold 49,505 shares of Twin Vee PowerCats stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $18.12, for a total transaction of $897,030.60. Following the completion of the sale, the insider directly owned 5,523 shares of the company’s stock, valued at approximately $100,076.76. This trade represents a 89.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Twin Vee PowerCats

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

Analysts Set New Price Targets

VEEE has been the topic of a number of research reports. Wall Street Zen lowered 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 report on Wednesday, August 19th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Twin Vee PowerCats has a consensus rating of “Sell”.

Twin Vee PowerCats Company Profile

Twin Vee PowerCats Co is a recreational boat manufacturer based in Fort Pierce, Florida. The company designs, manufactures and sells fiberglass power catamarans under the Twin Vee brand, serving recreational boaters, offshore anglers and commercial operators.

Twin Vee’s product lineup includes power catamarans in various sizes and configurations, with features intended for offshore fishing, cruising, family recreation and watersports. The company also markets boats under the AquaSport brand, which focuses primarily on center-console and other recreational vessels.