FORT PIERCE, FL - Twin Vee PowerCats Co. (NASDAQ:VEEE), a well-known sport boat manufacturer, has announced a partnership with Raymarine, a company with over 80 years of experience in marine navigation technology. This collaboration aims to offer optional electronics packages for Twin Vee's 2025 GFX-2 flagship model series.
Joseph Visconti, CEO and President of Twin Vee, expressed confidence in Raymarine's multifunction displays and comprehensive product line, which includes thermal cameras, augmented reality, radar, and sonar. Visconti believes these additions will significantly enhance the functionality of the GFX-2 boats.
Twin Vee plans to offer four distinct Raymarine electronics packages. The Navigation Plus option will feature Quantum (NASDAQ:QMCO) 2 doppler radar, an AR200 video stabilization camera with night vision, GPS, heading sensors, autopilot, YachtSense Link router, and a RAY90 Black Box VHF system.
For improved situational awareness, the Thermal Vision Go package will include the FLIR M332 camera. Anglers may be interested in the Fish Find Plus option, which comes with a RealVision MAX Black Box CHIRP Sonar and 3D sonar capabilities. Lastly, the Geo-Positioning Anchor package will offer an integrated Rhodan trolling motor for enhanced tracking and position stability.
Visconti highlighted the importance of automation technology in the future of boating, positioning Twin Vee at the forefront of integrating these advanced tools into their products. Jamie Dery, Vice President of Raymarine America, also expressed enthusiasm for the partnership, anticipating that Raymarine's products will elevate the boating experience for Twin Vee customers.
For more information on Twin Vee's offerings, interested parties can visit their website. Details on Raymarine's technology can be found on their official site. This article is based on a press release statement from Twin Vee PowerCats Co.
InvestingPro Insights
In light of Twin Vee PowerCats Co.'s exciting partnership with Raymarine, investors and boating enthusiasts alike may be keen on the company's financial health and market performance. Twin Vee, known for its innovation in the boating industry, holds a market capitalization of $7.13 million, signaling a modest size within the market space. Despite a challenging market environment, the company stands out with a Price / Book ratio of 0.3 as of the last twelve months ending Q4 2023, which suggests that the stock may be undervalued relative to its assets.
While the company's revenue saw a slight increase of 4.5% during the same period, Twin Vee's stock has experienced significant volatility, with a price total return of -51.04% over the past three months. This could present an opportunity for investors who believe in the company's long-term strategy and partnership initiatives to consider the stock at its current valuation.
Among the InvestingPro Tips for Twin Vee, two particularly stand out in the context of the company's current developments. Firstly, Twin Vee is expected to see net income growth this year, which could be a sign of the company's potential to capitalize on its innovative partnerships and offerings. Secondly, analysts anticipate sales growth in the current year, which may be further bolstered by the new collaboration with Raymarine and the launch of the 2025 GFX-2 flagship model series.
For investors interested in a deeper dive into Twin Vee's financials and future prospects, additional insights are available on InvestingPro. The platform offers several more InvestingPro Tips to guide investment decisions. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which includes access to these valuable tips and real-time data to stay ahead of the market.
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