Twin Vee Powercats (NASDAQ:VEEE) Announces Earnings Results

Twin Vee Powercats (NASDAQ:VEEE) announced its quarterly earnings results on Tuesday. The company reported ($0.16) earnings per share (EPS) for the quarter, reports. The business had revenue of $8.45 million for the quarter. Twin Vee Powercats had a negative return on equity of 25.97% and a negative net margin of 29.18%.

Twin Vee Powercats Stock Performance

Shares of NASDAQ VEEE opened at $0.86 on Friday. The stock’s 50-day simple moving average is $1.24 and its 200-day simple moving average is $1.34. Twin Vee Powercats has a fifty-two week low of $0.84 and a fifty-two week high of $2.39. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.14 and a quick ratio of 4.62.

Hedge Funds Weigh In On Twin Vee Powercats

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Twin Vee Powercats by 25.5% during the third quarter. Vanguard Group Inc. now owns 92,796 shares of the company’s stock worth $126,000 after purchasing an additional 18,873 shares in the last quarter. FAS Wealth Partners Inc. purchased a new position in shares of Twin Vee Powercats in the 3rd quarter valued at $32,000. Geode Capital Management LLC purchased a new position in shares of Twin Vee Powercats in the 2nd quarter valued at $79,000. Susquehanna International Group LLP acquired a new stake in Twin Vee Powercats during the 1st quarter worth $25,000. Finally, Renaissance Technologies LLC lifted its position in Twin Vee Powercats by 133.8% in the first quarter. Renaissance Technologies LLC now owns 33,900 shares of the company’s stock valued at $57,000 after acquiring an additional 19,400 shares during the last quarter. 15.57% of the stock is owned by institutional investors and hedge funds.

Twin Vee Powercats Company Profile

Twin Vee PowerCats Co designs, manufactures, and markets recreational and commercial power catamaran boats. It operates through three segments: Gas-Powered Boat, Electric-Powered Boat, and Franchise. The company's boats allow consumers to use them for a range of recreational activities, including fishing, diving, and water skiing; and commercial activities, including transportation, eco tours, fishing and diving expeditions.