Vision Marine Technologies (NASDAQ:VMAR) Major Shareholder Financial Lp Hrt Sells 35,403 Shares

Vision Marine Technologies Inc. (NASDAQ:VMAR) major shareholder Financial Lp Hrt sold 35,403 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $0.40, for a total transaction of $14,161.20. Following the transaction, the insider owned 87,796 shares of the company’s stock, valued at approximately $35,118.40. The trade was a 28.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions 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.
• On Wednesday, June 3rd, Financial Lp Hrt acquired 124,448 shares of Vision Marine Technologies stock. The stock was bought at an average price of $0.43 per share, with a total value of $53,512.64.

Vision Marine Technologies Trading Down 13.9%

Shares of NASDAQ:VMAR traded down $0.06 during mid-day trading on Tuesday, hitting $0.36. The company had a trading volume of 2,742,537 shares, compared to its average volume of 423,546. The firm has a fifty day moving average price of $1.20 and a 200 day moving average price of $8.07. The company has a market capitalization of $46,800.00, a PE 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 $0.33 and a one year high of $351.20.

Vision Marine Technologies (NASDAQ:VMAR) last released its quarterly earnings data on Tuesday, April 14th. The company reported ($2.32) earnings per share for the quarter, beating the consensus estimate of ($65.34) by $63.02. The company 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%.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Vision Marine Technologies from a “sell (e+)” rating to a “sell (e)” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Vision Marine Technologies has a consensus rating of “Sell”.

Hedge Funds Weigh In On Vision Marine Technologies

A hedge fund recently bought a new stake in Vision Marine Technologies stock. Sabby Management LLC acquired a new position in shares of Vision Marine Technologies Inc. (NASDAQ:VMAR) during the third quarter, according to its most recent disclosure 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 about 0.3% of Sabby Management LLC’s portfolio, making the stock its 17th biggest holding. Sabby Management LLC owned 19.03% of Vision Marine Technologies as of its most recent filing with the Securities and Exchange Commission. 53.79% of the stock is owned by institutional investors and hedge funds.

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.