Twin Vee meets Nasdaq minimum bid price requirement

FORT PIERCE, FL - Twin Vee PowerCats Co. (NASDAQ:VEEE), a prominent sport boat manufacturer with a market capitalization of $3.75 million, announced today that it has successfully regained compliance with the Nasdaq Capital Market’s minimum bid price requirement. The company was notified by the Nasdaq Listings Qualifications Department on April 28, 2025, that its common stock had maintained a closing bid price of $1.00 per share or greater for 13 consecutive business days, from April 8, 2025, through April 25, 2025. According to InvestingPro data, the stock has experienced significant volatility, with a 67.65% decline over the past year.

This achievement affirms that Twin Vee has met the standards set by Listing Rule 5550(a)(2), resulting in the closure of the compliance matter. Joseph Visconti, CEO and President of Twin Vee, expressed satisfaction with the resolution of the listing issue and emphasized the company’s renewed focus on executing its business strategy and enhancing value for its shareholders. InvestingPro analysis reveals that while the company maintains a healthy current ratio of 2.78, it faces challenges with negative gross profit margins and declining revenues.

Twin Vee PowerCats Co., known for its catamaran hull designs that offer stability, fuel efficiency, and a smooth ride, has been manufacturing boats suited for fishing, cruising, and recreational use for over 30 years. The company prides itself on being a leading name in the catamaran sport boat category and operates from its headquarters in Fort Pierce, Florida. Financial metrics from InvestingPro indicate the company trades at a modest Price/Book ratio of 0.2, suggesting potential value opportunity despite recent challenges. Subscribers can access 15 additional ProTips and comprehensive analysis in the Pro Research Report.

The press release also contained forward-looking statements regarding the company’s plans to execute its business strategy and build long-term value for investors. However, these statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Twin Vee advises that its forward-looking statements should not be relied upon as predictions of future events and that the company does not commit to updating these statements as per new information or future occurrences. Recent financial data shows revenue declined by 56.95% year-over-year, highlighting the importance of monitoring key metrics available through InvestingPro’s comprehensive research platform.

This news is based on the recent press release statement issued by Twin Vee PowerCats Co.

In other recent news, Twin Vee PowerCats Co. reported a significant decline in its 2024 earnings, with net sales dropping by 57% compared to the previous year, culminating in a Q4 revenue of $1.9 million. Despite these challenges, the company remains optimistic, projecting a 50% increase in sales for Q1 2025. Twin Vee is also advancing its digital marketplace, BoatsForSale.com, which is set for a full launch by May 2025, aiming to enhance the marketing and sales of boats in the U.S. Additionally, Twin Vee announced a 1-for-10 reverse stock split, effective April 8, 2025, to comply with Nasdaq’s minimum bid price requirement. The reverse stock split will reduce outstanding shares from approximately 14.9 million to about 1.5 million, while maintaining the total authorized shares at 50 million. Analysts from various firms have noted the company’s strategic initiatives, including focusing on larger, higher-priced boats and enhancing dealer programs. Twin Vee’s CEO expressed confidence in the potential of BoatsForSale.com to become a leading platform in the marine industry. The company ended 2024 with $7.7 million in cash, indicating a strong cash position despite the year’s setbacks.

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