Short Interest in Vision Marine Technologies Inc. (NASDAQ:VMAR) Drops By 76.8%

Vision Marine Technologies Inc. (NASDAQ:VMAR) saw a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 29,613 shares, a drop of 76.8% from the June 15th total of 127,581 shares. Approximately 370.2% of the company’s shares are sold short. Based on an average daily trading volume, of 395,956 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analyst Weigh In

VMAR has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Vision Marine Technologies from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, June 17th. Wall Street Zen upgraded Vision Marine Technologies to a “hold” rating in a research note on Saturday, June 20th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Vision Marine Technologies presently has a consensus rating of “Sell”.

Vision Marine Technologies Price Performance

Vision Marine Technologies stock opened at $1.41 on Tuesday. 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 has a 52-week low of $1.00 and a 52-week high of $2,680.00. The firm has a market cap of $14,100.00, a PE ratio of -0.00 and a beta of 0.12. The company’s 50 day moving average is $4.58 and its two-hundred day moving average is $24.35.

Vision Marine Technologies (NASDAQ:VMAR) last posted its quarterly earnings results on Monday, July 13th. The company reported ($29.10) EPS for the quarter, topping the consensus estimate of ($686.83) by $657.73. The business had revenue of $18.37 million during the quarter, compared to the consensus estimate of $1.01 million. Vision Marine Technologies had a negative net margin of 54.94% and a negative return on equity of 281.97%.

Insiders Place Their Bets

In related news, major shareholder Financial Lp Hrt purchased 234,583 shares of the company’s stock in a transaction 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 completion of the transaction, the insider directly owned 202,475 shares in the company, valued at approximately $58,717.75. The trade was a -730.61% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Over the last ninety days, insiders have bought 304,095 shares of company stock worth $223,834 and have sold 91,175 shares worth $160,390. 40.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vision Marine Technologies

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

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.