Vision Marine Technologies (NASDAQ:VMAR) Major Shareholder Acquires 234,583 Shares

Vision Marine Technologies Inc. (NASDAQ:VMAR) major shareholder Financial Lp Hrt acquired 234,583 shares of Vision Marine Technologies stock in a transaction dated Tuesday, June 16th. The shares were acquired at an average price of $0.29 per share, with a total value of $68,029.07. Following the transaction, the insider owned 202,475 shares in the company, valued at approximately $58,717.75. This represents a -730.61% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more 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 Monday, June 8th, Financial Lp Hrt sold 3,540 shares of Vision Marine Technologies stock. The stock was sold at an average price of $4.00, for a total transaction of $14,160.00.
• On Thursday, June 4th, Financial Lp Hrt sold 556 shares of Vision Marine Technologies stock. The stock was sold at an average price of $4.30, for a total transaction of $2,390.80.
• On Wednesday, June 3rd, Financial Lp Hrt bought 12,444 shares of Vision Marine Technologies stock. The shares were acquired at an average cost of $4.30 per share, with a total value of $53,509.20.

Vision Marine Technologies Price Performance

VMAR stock traded down $0.53 on Thursday, hitting $2.97. 201,009 shares of the company’s stock traded hands, compared to its average volume of 63,744. The stock has a market cap of $386,100.00, a price-to-earnings ratio of -0.01 and a beta of 0.07. Vision Marine Technologies Inc. has a 1-year low of $2.11 and a 1-year high of $3,252.00. The company has a current ratio of 1.28, a quick ratio of 0.43 and a debt-to-equity ratio of 0.87. The stock has a fifty day moving average of $9.59 and a 200-day moving average of $57.41.

Vision Marine Technologies (NASDAQ:VMAR) last posted its quarterly earnings results on Tuesday, April 14th. The company reported ($23.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($653.39) by $630.19. The firm had revenue of $14.53 million for 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%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Vision Marine Technologies from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Vision Marine Technologies

An institutional investor recently bought a new position in Vision Marine Technologies stock. Sabby Management LLC purchased a new stake in Vision Marine Technologies Inc. (NASDAQ:VMAR) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 186,536 shares of the company’s stock, valued at approximately $254,000. Vision Marine Technologies makes up about 0.3% of Sabby Management LLC’s portfolio, making the stock its 17th biggest position. Sabby Management LLC owned approximately 19.03% of Vision Marine Technologies as of its most recent filing with the Securities and Exchange Commission. 53.79% of the stock is currently 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.