Vision Marine Technologies Inc. (NASDAQ:VMAR) Short Interest Up 117.9% in April

Vision Marine Technologies Inc. (NASDAQ:VMAR) was the recipient of a significant increase in short interest in the month of April. As of April 30th, there was short interest totaling 156,408 shares, an increase of 117.9% from the April 15th total of 71,790 shares. Based on an average daily volume of 180,890 shares, the days-to-cover ratio is presently 0.9 days. Approximately 208.5% of the shares of the company are sold short.

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 position in shares of Vision Marine Technologies Inc. (NASDAQ:VMAR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 186,536 shares of the company’s stock, valued at approximately $254,000. Vision Marine Technologies makes up 0.3% of Sabby Management LLC’s holdings, making the stock its 17th biggest holding. Sabby Management LLC owned about 19.03% of Vision Marine Technologies at the end of the most recent reporting period. 53.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on VMAR shares. Weiss Ratings cut shares of Vision Marine Technologies from a “sell (e+)” rating to a “sell (e)” rating in a research report on Wednesday. Wall Street Zen raised shares of Vision Marine Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Vision Marine Technologies currently has an average rating of “Sell”.

Vision Marine Technologies Stock Performance

Shares of Vision Marine Technologies stock traded down $0.04 during trading on Friday, reaching $0.76. The company’s stock had a trading volume of 88,600 shares, compared to its average volume of 392,894. The business’s 50-day moving average price is $1.74 and its 200-day moving average price is $14.47. The firm has a market cap of $99,255.00, a PE ratio of 0.00 and a beta of 0.20. Vision Marine Technologies has a 52 week low of $0.74 and a 52 week high of $355.20. The company has a quick ratio of 0.43, a current ratio of 1.28 and a debt-to-equity ratio of 0.87.

Vision Marine Technologies (NASDAQ:VMAR) last announced its earnings results on Tuesday, April 14th. The company reported ($2.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($65.34) by $63.02. The company had revenue of $14.53 million during the quarter, compared to analysts’ expectations of $0.73 million. Vision Marine Technologies had a negative net margin of 54.94% and a negative return on equity of 281.97%.

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.