Vision Marine Technologies Inc. (NASDAQ:VMAR) Sees Significant Increase in Short Interest

Vision Marine Technologies Inc. (NASDAQ:VMAR) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 977,857 shares, an increase of 3,202.1% from the June 30th total of 29,613 shares. Currently, 12,223.2% of the shares of the company are short sold. Based on an average daily volume of 15,841,817 shares, the days-to-cover ratio is presently 0.1 days.

Insider Activity

In other news, major shareholder Financial Lp Hrt bought 234,583 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were acquired at an average price of $0.29 per share, for a total transaction of $68,029.07. Following the completion of the transaction, the insider owned 202,475 shares of the company’s stock, valued at approximately $58,717.75. This trade represents a -730.61% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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.

Vision Marine Technologies Stock Performance

Vision Marine Technologies stock traded down $0.10 during mid-day trading on Friday, reaching $0.73. 811,603 shares of the company were exchanged, compared to its average volume of 1,444,942. The firm’s 50-day simple moving average is $3.13 and its two-hundred day simple moving average is $19.43. Vision Marine Technologies has a twelve month low of $0.72 and a twelve month high of $2,640.00. The firm has a market cap of $7,290.00, a PE ratio of -0.00 and a beta of 0.12. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.47 and a current ratio of 1.26.

Vision Marine Technologies (NASDAQ:VMAR) last released its quarterly earnings results on Monday, July 13th. The company reported ($29.10) EPS for the quarter, topping the consensus estimate of ($686.83) by $657.73. Vision Marine Technologies had a negative return on equity of 350.19% and a negative net margin of 39.82%.The business had revenue of $18.37 million during the quarter, compared to analysts’ expectations of $1.01 million.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on VMAR. Weiss Ratings upgraded Vision Marine Technologies from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday. Wall Street Zen raised Vision Marine Technologies to a “hold” rating in a report on Saturday, June 20th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock 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.