Twin Vee PowerCats, Co. (NASDAQ:VEEE) Short Interest Down 68.3% in May

Twin Vee PowerCats, Co. (NASDAQ:VEEE) was the target of a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 14,271 shares, a drop of 68.3% from the May 14th total of 45,078 shares. Approximately 3.3% of the shares of the company are short sold. Based on an average trading volume of 46,597 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On Twin Vee PowerCats

Institutional investors have recently bought and sold shares of the stock. Everstar Asset Management LLC bought a new position in Twin Vee PowerCats during the 1st quarter valued at approximately $64,000. Two Sigma Investments LP bought a new position in Twin Vee PowerCats during the 3rd quarter valued at approximately $67,000. Finally, Keebeck Wealth Management bought a new position in Twin Vee PowerCats during the 1st quarter valued at approximately $103,000. 15.57% of the stock is currently owned by hedge funds and other institutional investors.

Twin Vee PowerCats Trading Down 5.3%

Shares of VEEE traded down $0.36 during midday trading on Thursday, reaching $6.38. The stock had a trading volume of 24,333 shares, compared to its average volume of 179,866. The company’s 50-day moving average is $7.35 and its 200 day moving average is $34.22. Twin Vee PowerCats has a 12-month low of $5.00 and a 12-month high of $128.02. The company has a market capitalization of $3.38 million, a price-to-earnings ratio of -0.05 and a beta of 1.05.

Twin Vee PowerCats (NASDAQ:VEEE) last posted its quarterly earnings data 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.

Analyst Ratings Changes

Several analysts have issued reports on VEEE shares. Wall Street Zen lowered Twin Vee PowerCats from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. Weiss Ratings upgraded Twin Vee PowerCats from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Twin Vee PowerCats currently has an average rating of “Sell”.

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.