Vision Marine Technologies (NASDAQ:VMAR) Issues Quarterly Earnings Results

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

Vision Marine Technologies Stock Up 11.0%

NASDAQ VMAR traded up $0.14 during trading on Monday, reaching $1.41. 28,683,673 shares of the company’s stock were exchanged, compared to its average volume of 465,473. The company has a 50 day moving average price of $4.82 and a two-hundred day moving average price of $25.09. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.43 and a current ratio of 1.28. The stock has a market cap of $18,330.00, a P/E ratio of -0.00 and a beta of 0.12. Vision Marine Technologies has a 1 year low of $1.00 and a 1 year high of $2,680.00.

Insider Activity

In other news, major shareholder Financial Lp Hrt acquired 234,583 shares of Vision Marine Technologies stock in a transaction on Tuesday, June 16th. The stock was bought at an average price of $0.29 per share, for a total transaction of $68,029.07. Following the completion of the purchase, the insider owned 202,475 shares in the company, valued at $58,717.75. This represents a -730.61% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders bought 304,095 shares of company stock worth $223,834 and sold 91,175 shares worth $160,390. Insiders own 40.40% of the company’s stock.

Analyst Ratings Changes

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