Vision Marine Technologies Inc. (NASDAQ:VMAR) Short Interest Up 77.9% in August

Vision Marine Technologies Inc. (NASDAQ:VMAR) was the target of a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 359,932 shares, a growth of 77.9% from the July 30th total of 202,304 shares. Based on an average trading volume of 4,906,810 shares, the days-to-cover ratio is currently 0.1 days. Approximately 4,499.2% of the company’s shares are short sold.

Vision Marine Technologies Trading Up 1.3%

Shares of NASDAQ:VMAR traded up $0.10 during midday trading on Tuesday, reaching $7.88. 28,918 shares of the company’s stock were exchanged, compared to its average volume of 186,604. The firm’s 50 day simple moving average is $10.35 and its two-hundred day simple moving average is $103.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.26 and a quick ratio of 0.47. The stock has a market cap of $10,000.00, a price-to-earnings ratio of -0.02 and a beta of 0.18. Vision Marine Technologies has a fifty-two week low of $5.16 and a fifty-two week high of $6,799.20.

Vision Marine Technologies (NASDAQ:VMAR) last posted its earnings results on Monday, July 13th. The company reported ($29.10) EPS for the quarter, beating analysts’ consensus estimates of ($6,868.26) by $6,839.16. Vision Marine Technologies had a negative net margin of 39.82% and a negative return on equity of 350.19%. The company had revenue of $18.37 million for the quarter, compared to analysts’ expectations of $1.01 million.

Insider Activity at Vision Marine Technologies

In other news, major shareholder Financial Lp Hrt purchased 23,458 shares of the stock in a transaction dated Tuesday, June 16th. The shares were purchased at an average price of $2.90 per share, with a total value of $68,028.20. Following the transaction, the insider owned 20,247 shares in the company, valued at $58,716.30. The trade was a -730.55% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders acquired 30,405 shares of company stock worth $223,739 and sold 9,113 shares worth $160,288. 40.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

VMAR has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Vision Marine Technologies from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, August 21st. Wall Street Zen raised shares of Vision Marine Technologies to a “hold” rating in a research note on Saturday, June 20th. One investment analyst has rated the stock with a Sell rating, According to 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.