Vision Marine Technologies Inc. (NASDAQ:VMAR) Sees Large Drop in Short Interest

Vision Marine Technologies Inc. (NASDAQ:VMARGet Free Report) saw a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 29,613 shares, a drop of 76.8% from the June 15th total of 127,581 shares. Based on an average daily trading volume, of 395,956 shares, the short-interest ratio is currently 0.1 days. Currently, 370.2% of the shares of the company are short sold.

Analysts Set New Price Targets

Several equities research analysts have issued reports on VMAR shares. Wall Street Zen raised Vision Marine Technologies to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings upgraded shares of Vision Marine Technologies from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday, June 17th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Check Out Our Latest Report on VMAR

Vision Marine Technologies Stock Performance

Shares of Vision Marine Technologies stock traded up $0.03 on Friday, hitting $1.27. The stock had a trading volume of 861,580 shares, compared to its average volume of 1,616,438. Vision Marine Technologies has a twelve month low of $1.00 and a twelve month high of $2,680.00. The business’s 50 day moving average is $4.82 and its two-hundred day moving average is $25.09. The company has a quick ratio of 0.43, a current ratio of 1.28 and a debt-to-equity ratio of 0.87. The stock has a market cap of $16,510.00, a price-to-earnings ratio of -0.00 and a beta of 0.12.

Vision Marine Technologies (NASDAQ:VMARGet Free Report) last announced its earnings results on Tuesday, April 14th. The company reported ($23.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($653.39) by $630.19. The company had revenue of $14.53 million for the quarter, compared to analyst estimates of $0.73 million. Vision Marine Technologies had a negative return on equity of 281.97% and a negative net margin of 54.94%.

Insider Activity at Vision Marine Technologies

In other Vision Marine Technologies news, major shareholder Financial Lp Hrt bought 234,583 shares of Vision Marine Technologies stock in a transaction dated Tuesday, June 16th. The stock was bought at an average cost of $0.29 per share, for a total transaction of $68,029.07. Following the purchase, the insider owned 202,475 shares of the company’s stock, valued at $58,717.75. The trade was a -730.61% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders purchased 304,095 shares of company stock worth $223,834 and sold 56,429 shares worth $116,958. Corporate insiders own 40.40% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Vision Marine Technologies stock. Sabby Management LLC bought a new position in shares of Vision Marine Technologies Inc. (NASDAQ:VMARFree Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 186,536 shares of the company’s stock, valued at approximately $254,000. Vision Marine Technologies makes up about 0.3% of Sabby Management LLC’s holdings, making the stock its 17th biggest position. Sabby Management LLC owned about 19.03% of Vision Marine Technologies as of its most recent SEC filing. Hedge funds and other institutional investors own 53.79% of the company’s stock.

Vision Marine Technologies Company Profile

(Get Free Report)

Vision Marine Technologies Inc (NASDAQ: VMAR) is a Canadian-based company that designs, develops and manufactures electric recreational boats and propulsion systems. As a cleantech innovator, Vision Marine integrates advanced battery management, digital controls and lightweight composite construction to deliver zero-emission watercraft and electric outboard motors. The company’s modular platform enables boat builders and end users to configure custom hulls and propulsion packages while leveraging onboard connectivity for remote monitoring and performance analytics.

Vision Marine’s product portfolio includes fully electric boat models ranging from compact day-cruisers to larger pontoon-style vessels, as well as a series of high-efficiency electric outboard motors.

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