Twin Vee PowerCats (NASDAQ:VEEE) Trading Up 4.7% – Here’s Why

Twin Vee PowerCats, Co. (NASDAQ:VEEE)’s share price rose 4.7% during mid-day trading on Wednesday . The stock traded as high as $1.72 and last traded at $1.57. Approximately 4,370,040 shares were traded during mid-day trading, an increase of 4,140% from the average daily volume of 103,070 shares. The stock had previously closed at $1.50.

Wall Street Analysts Forecast Growth

VEEE has been the subject of a number of analyst reports. Wall Street Zen lowered Twin Vee PowerCats from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Twin Vee PowerCats in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Twin Vee PowerCats Stock Performance

The company has a market capitalization of $3.52 million, a PE ratio of -0.24 and a beta of 1.05. The company’s fifty day moving average is $1.87 and its 200-day moving average is $2.16.

Twin Vee PowerCats (NASDAQ:VEEE) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($1.23) earnings per share for the quarter. The firm had revenue of $3.43 million during the quarter. Twin Vee PowerCats had a negative return on equity of 65.04% and a negative net margin of 94.19%.

Institutional Investors Weigh In On Twin Vee PowerCats

An institutional investor recently bought a new position in Twin Vee PowerCats stock. Two Sigma Investments LP purchased a new stake in shares of Twin Vee PowerCats, Co. (NASDAQ:VEEE) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 24,370 shares of the company’s stock, valued at approximately $67,000. Two Sigma Investments LP owned 1.09% of Twin Vee PowerCats as of its most recent SEC filing. 15.57% of the stock is owned by 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.