Short Interest in Vision Marine Technologies Inc. (NASDAQ:VMAR) Declines By 79.3%

Vision Marine Technologies Inc. (NASDAQ:VMAR) saw a large decrease in short interest in July. As of July 31st, there was short interest totaling 202,304 shares, a decrease of 79.3% from the July 15th total of 977,857 shares. Currently, 2,528.8% of the shares of the company are sold short. Based on an average daily trading volume, of 2,928,874 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

VMAR has been the topic of a number of recent research reports. Weiss Ratings cut Vision Marine Technologies from a “sell (e+)” rating to a “sell (e)” rating in a report on Monday, August 3rd. Wall Street Zen upgraded Vision Marine Technologies to a “hold” rating in a research report on Saturday, June 20th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Vision Marine Technologies Price Performance

Shares of Vision Marine Technologies stock traded up $0.03 during trading on Thursday, hitting $0.66. The stock had a trading volume of 563,800 shares, compared to its average volume of 4,290,527. The company has a current ratio of 1.26, a quick ratio of 0.47 and a debt-to-equity ratio of 1.25. Vision Marine Technologies has a 12 month low of $0.52 and a 12 month high of $1,440.00. The firm has a market cap of $6,639.00, a price-to-earnings ratio of -0.00 and a beta of 0.18. The business’s 50-day moving average is $1.65 and its 200 day moving average is $13.08.

Vision Marine Technologies (NASDAQ:VMAR) last posted its quarterly earnings data on Monday, July 13th. The company reported ($29.10) earnings per share (EPS) for the quarter, beating 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 company had revenue of $18.37 million during the quarter, compared to analyst estimates of $1.01 million.

Insider Buying and Selling

In other Vision Marine Technologies news, major shareholder Financial Lp Hrt acquired 234,583 shares of Vision Marine Technologies stock in a transaction that occurred on Tuesday, June 16th. The stock was acquired at an average cost of $0.29 per share, for a total transaction of $68,029.07. Following the purchase, the insider owned 202,475 shares of the company’s stock, valued at approximately $58,717.75. This represents a -730.61% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have purchased 304,095 shares of company stock valued at $223,834 and have sold 91,175 shares valued at $160,390. Company insiders own 40.40% 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.