Vision Marine Technologies Inc. (NASDAQ:VMAR) Short Interest Down 76.8% in June

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

Wall Street Analysts Forecast Growth

VMAR has been the subject of a number of analyst reports. Weiss Ratings raised shares of Vision Marine Technologies from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, June 17th. Wall Street Zen upgraded shares of Vision Marine Technologies to a “hold” rating in a research note on Saturday, June 20th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Vision Marine Technologies Stock Up 2.4%

Shares of Vision Marine Technologies stock traded up $0.03 on Friday, reaching $1.27. 861,580 shares of the company were exchanged, compared to its average volume of 1,616,438. The company has a market capitalization of $16,510.00, a price-to-earnings ratio of -0.00 and a beta of 0.12. The company has a current ratio of 1.28, a quick ratio of 0.43 and a debt-to-equity ratio of 0.87. Vision Marine Technologies has a one year low of $1.00 and a one year high of $2,680.00. The company has a 50-day moving average of $4.82 and a 200 day moving average of $25.09.

Vision Marine Technologies (NASDAQ:VMAR) last released its earnings results on Tuesday, April 14th. The company reported ($23.20) earnings per share for the quarter, beating the consensus estimate of ($653.39) by $630.19. Vision Marine Technologies had a negative net margin of 54.94% and a negative return on equity of 281.97%. The business had revenue of $14.53 million during the quarter, compared to analysts’ expectations of $0.73 million.

Insider Activity

In other Vision Marine Technologies news, major shareholder Financial Lp Hrt bought 234,583 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was acquired at an average cost of $0.29 per share, with a total value of $68,029.07. Following the purchase, the insider owned 202,475 shares in the company, valued at $58,717.75. This trade represents a -730.61% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders purchased 304,095 shares of company stock valued at $223,834 and sold 56,429 shares valued at $116,958. Corporate insiders own 40.40% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Vision Marine Technologies stock. Sabby Management LLC bought a new stake in Vision Marine Technologies Inc. (NASDAQ:VMAR) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 186,536 shares of the company’s stock, valued at approximately $254,000. Vision Marine Technologies comprises 0.3% of Sabby Management LLC’s investment portfolio, making the stock its 17th largest position. Sabby Management LLC owned about 19.03% of Vision Marine Technologies as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 53.79% of the company’s stock.

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.