Twin Vee PowerCats (NASDAQ:VEEE) Posts Earnings Results

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

Twin Vee PowerCats Price Performance

Shares of NASDAQ VEEE traded down $0.69 during trading on Friday, hitting $8.50. 68,965 shares of the company were exchanged, compared to its average volume of 6,677,004. Twin Vee PowerCats has a 1 year low of $4.16 and a 1 year high of $128.02. The company has a market cap of $4.50 million, a price-to-earnings ratio of -0.06 and a beta of 0.96. The firm’s fifty day moving average price is $11.07 and its 200 day moving average price is $17.21.

Insider Activity

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 shares were sold at an average price of $18.12, for a total value of $897,030.60. Following the completion of the sale, the insider owned 5,523 shares in the company, valued at $100,076.76. This trade represents 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 owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Twin Vee PowerCats stock. Two Sigma Investments LP bought a new stake in Twin Vee PowerCats, Co. (NASDAQ:VEEE) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 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. Hedge funds and other institutional investors own 15.57% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on VEEE. Wall Street Zen lowered Twin Vee PowerCats from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. Weiss Ratings raised Twin Vee PowerCats from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, May 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

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.