Vision Marine Technologies Inc. (NASDAQ:VMAR – Get Free Report) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 66,919 shares, a drop of 81.4% from the August 15th total of 359,932 shares. Currently, 6,691.9% of the shares of the company are short sold. Based on an average daily trading volume, of 464,364 shares, the short-interest ratio is currently 0.1 days.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on VMAR shares. Wall Street Zen raised Vision Marine Technologies to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings downgraded Vision Marine Technologies from a “sell (e+)” rating to a “sell (e)” rating in a research note on Tuesday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.
Read Our Latest Research Report on Vision Marine Technologies
Vision Marine Technologies Stock Down 13.0%
Vision Marine Technologies (NASDAQ:VMAR – Get Free Report) last issued its quarterly earnings results on Monday, July 13th. The company reported ($29.10) earnings per share for the quarter, topping the consensus estimate of ($6,868.26) by $6,839.16. The business had revenue of $18.37 million for the quarter, compared to analysts’ expectations of $1.01 million. Vision Marine Technologies had a negative net margin of 39.82% and a negative return on equity of 350.19%.
Insider Activity at Vision Marine Technologies
In related news, major shareholder Financial Lp Hrt sold 3,474 shares of Vision Marine Technologies stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $12.50, for a total value of $43,425.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders acquired 29,161 shares of company stock valued at $170,247 and sold 8,704 shares valued at $143,763. 40.40% of the stock is owned by insiders.
About Vision Marine Technologies
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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