Financial Lp Hrt Buys 234,583 Shares of Vision Marine Technologies (NASDAQ:VMAR) Stock

Vision Marine Technologies Inc. (NASDAQ:VMAR) major shareholder Financial Lp Hrt purchased 234,583 shares of Vision Marine Technologies stock in a transaction that occurred on Tuesday, June 16th. The shares were bought at an average cost of $0.29 per share, for a total transaction of $68,029.07. Following the transaction, the insider directly owned 202,475 shares of the company’s stock, valued at $58,717.75. This represents a -730.61% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Financial Lp Hrt also recently made the following trade(s):

• On Monday, June 8th, Financial Lp Hrt sold 3,540 shares of Vision Marine Technologies stock. The stock was sold at an average price of $4.00, for a total value of $14,160.00.
• On Thursday, June 4th, Financial Lp Hrt sold 556 shares of Vision Marine Technologies stock. The shares were sold at an average price of $4.30, for a total value of $2,390.80.
• On Wednesday, June 3rd, Financial Lp Hrt bought 12,444 shares of Vision Marine Technologies stock. The shares were bought at an average price of $4.30 per share, with a total value of $53,509.20.

Vision Marine Technologies Stock Performance

NASDAQ:VMAR opened at $2.97 on Friday. The company has a market cap of $29,700.00, a price-to-earnings ratio of -0.01 and a beta of 0.07. Vision Marine Technologies Inc. has a fifty-two week low of $2.11 and a fifty-two week high of $3,252.00. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.43 and a current ratio of 1.28. The stock has a fifty day moving average price of $8.90 and a 200-day moving average price of $53.54.

Vision Marine Technologies (NASDAQ:VMAR) last issued its quarterly earnings results on Tuesday, April 14th. The company reported ($23.20) EPS for the quarter, topping analysts’ consensus estimates of ($653.39) by $630.19. Vision Marine Technologies had a negative return on equity of 281.97% and a negative net margin of 54.94%.The company had revenue of $14.53 million for the quarter, compared to analysts’ expectations of $0.73 million.

Analyst Ratings Changes

A number of brokerages have recently weighed in on VMAR. Wall Street Zen raised shares of Vision Marine Technologies to a “hold” rating in a report on Saturday. Weiss Ratings raised shares of Vision Marine Technologies from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Vision Marine Technologies stock. Sabby Management LLC bought a new position in shares of Vision Marine Technologies Inc. (NASDAQ:VMAR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 186,536 shares of the company’s stock, valued at approximately $254,000. Vision Marine Technologies makes up about 0.3% of Sabby Management LLC’s portfolio, making the stock its 17th biggest position. Sabby Management LLC owned 19.03% of Vision Marine Technologies at the end of the most recent quarter. 53.79% of the stock is owned by hedge funds and other institutional investors.

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.