Vision Marine Technologies (NASDAQ:VMAR) Major Shareholder Financial Lp Hrt Acquires 124,448 Shares of Stock

Vision Marine Technologies Inc. (NASDAQ:VMAR) major shareholder Financial Lp Hrt acquired 124,448 shares of Vision Marine Technologies stock in a transaction that occurred on Wednesday, June 3rd. The stock was acquired at an average price of $0.43 per share, with a total value of $53,512.64. Following the completion of the purchase, the insider directly owned 111,892 shares in the company, valued at $48,113.56. This represents a -991.14% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Financial Lp Hrt also recently made the following trade(s):

• On Thursday, June 4th, Financial Lp Hrt sold 5,569 shares of Vision Marine Technologies stock. The shares were sold at an average price of $0.43, for a total transaction of $2,394.67.

Vision Marine Technologies Stock Down 7.7%

VMAR opened at $0.39 on Friday. The company has a fifty day moving average price of $1.23 and a 200-day moving average price of $8.69. The firm has a market capitalization of $50,388.00, a P/E ratio of 0.00 and a beta of 0.07. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.28 and a quick ratio of 0.43. Vision Marine Technologies Inc. has a one year low of $0.35 and a one year high of $351.20.

Vision Marine Technologies (NASDAQ:VMAR) last released its quarterly earnings results on Tuesday, April 14th. The company reported ($2.32) EPS for the quarter, beating analysts’ consensus estimates of ($65.34) by $63.02. The firm had revenue of $14.53 million during the quarter, compared to analyst estimates of $0.73 million. Vision Marine Technologies had a negative net margin of 54.94% and a negative return on equity of 281.97%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Vision Marine Technologies stock. Sabby Management LLC bought a new position in Vision Marine Technologies Inc. (NASDAQ:VMAR) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 186,536 shares of the company’s stock, valued at approximately $254,000. Vision Marine Technologies makes up 0.3% of Sabby Management LLC’s portfolio, making the stock its 17th largest holding. 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.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Vision Marine Technologies from a “sell (e+)” rating to a “sell (e)” rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

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.