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

Vision Marine Technologies Inc. (NASDAQ:VMAR) was the target of a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 29,613 shares, a decrease of 76.8% from the June 15th total of 127,581 shares. Approximately 370.2% of the shares of the stock are sold short. Based on an average trading volume of 395,956 shares, the days-to-cover ratio is presently 0.1 days.

Insiders Place Their Bets

In other Vision Marine Technologies news, major shareholder Financial Lp Hrt purchased 234,583 shares of the stock in a transaction on Tuesday, June 16th. The shares were purchased at an average price of $0.29 per share, with a total value of $68,029.07. Following the acquisition, the insider directly owned 202,475 shares in the company, valued at approximately $58,717.75. The trade was a -730.61% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders bought 304,095 shares of company stock valued at $223,834 and sold 91,175 shares valued at $160,390. 40.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Vision Marine Technologies stock. Sabby Management LLC acquired a new position in Vision Marine Technologies Inc. (NASDAQ:VMAR) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 186,536 shares of the company’s stock, valued at approximately $254,000. Vision Marine Technologies comprises 0.3% of Sabby Management LLC’s portfolio, making the stock its 17th biggest position. Sabby Management LLC owned 19.03% of Vision Marine Technologies at the end of the most recent quarter. 53.79% of the stock is owned by hedge funds and other institutional investors.

Vision Marine Technologies Price Performance

VMAR stock traded up $0.14 during mid-day trading on Monday, hitting $1.41. 29,298,464 shares of the stock were exchanged, compared to its average volume of 500,664. The business has a fifty day moving average price of $4.58 and a 200 day moving average price of $24.35. Vision Marine Technologies has a 12 month low of $1.00 and a 12 month high of $2,680.00. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.28 and a quick ratio of 0.43. The stock has a market capitalization of $18,330.00, a price-to-earnings ratio of -0.00 and a beta of 0.12.

Vision Marine Technologies (NASDAQ:VMAR) last announced its quarterly earnings data on Monday, July 13th. The company reported ($29.10) EPS for the quarter, beating the consensus estimate of ($686.83) by $657.73. Vision Marine Technologies had a negative return on equity of 281.97% and a negative net margin of 54.94%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VMAR. Wall Street Zen upgraded shares of Vision Marine Technologies to a “hold” rating in a research 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 report on Wednesday, June 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Vision Marine Technologies Company Profile

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.