Short Interest in Twin Vee PowerCats, Co. (NASDAQ:VEEE) Increases By 3,528.5%

Twin Vee PowerCats, Co. (NASDAQ:VEEE) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 255,484 shares, a growth of 3,528.5% from the June 30th total of 7,041 shares. Based on an average trading volume of 11,038,542 shares, the short-interest ratio is presently 0.0 days. Approximately 59.0% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on VEEE shares. Wall Street Zen downgraded Twin Vee PowerCats from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. 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. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Twin Vee PowerCats Stock Performance

Shares of NASDAQ VEEE traded down $1.53 during trading on Friday, hitting $12.97. The company had a trading volume of 232,988 shares, compared to its average volume of 1,090,950. Twin Vee PowerCats has a 12 month low of $4.16 and a 12 month high of $128.02. The firm has a market capitalization of $6.87 million, a P/E ratio of -0.10 and a beta of 1.08. The stock has a 50 day simple moving average of $9.93 and a 200 day simple moving average of $20.99.

Twin Vee PowerCats (NASDAQ:VEEE) last released its earnings results on Thursday, May 7th. The company reported ($12.93) earnings per share (EPS) for the quarter. Twin Vee PowerCats had a negative return on equity of 51.34% and a negative net margin of 59.92%.The firm had revenue of $3.96 million during the quarter.

Institutional Trading of Twin Vee PowerCats

A number of hedge funds and other institutional investors have recently modified their holdings of VEEE. Keebeck Wealth Management purchased a new position in shares of Twin Vee PowerCats during the 1st quarter valued at $103,000. Everstar Asset Management LLC bought a new position in Twin Vee PowerCats in the 1st quarter worth $64,000. Finally, Two Sigma Investments LP purchased a new stake in Twin Vee PowerCats in the 3rd quarter worth $67,000. 15.57% of the stock is owned by hedge funds and other institutional investors.

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.