Vision Marine Technologies (NASDAQ:VMAR) Posts Quarterly Earnings Results, Beats Estimates By $0.77 EPS

Vision Marine Technologies (NASDAQ:VMAR) announced its quarterly earnings results on Tuesday. The company reported ($0.86) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.63) by $0.77, Zacks reports. Vision Marine Technologies had a negative net margin of 156.52% and a negative return on equity of 198.37%.

Vision Marine Technologies Stock Down 13.0%

Shares of Vision Marine Technologies stock traded down $0.02 on Tuesday, reaching $0.13. 4,179,304 shares of the company were exchanged, compared to its average volume of 3,025,229. Vision Marine Technologies has a 1-year low of $0.12 and a 1-year high of $25.50. The stock’s 50 day moving average price is $0.75 and its 200-day moving average price is $2.34. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.19 and a quick ratio of 0.44. The company has a market cap of $633,390.00, a P/E ratio of 0.00 and a beta of 0.27.

Vision Marine Technologies shares are scheduled to reverse split on Wednesday, January 14th. The 1-40 reverse split was announced on Monday, January 12th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, January 13th.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Vision Marine Technologies in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Vision Marine Technologies presently 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.