Short Interest in Vision Marine Technologies Inc. (NASDAQ:VMAR) Decreases By 81.4%

Vision Marine Technologies Inc. (NASDAQ:VMAR) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 66,919 shares, a decline of 81.4% from the August 15th total of 359,932 shares. Currently, 6,691.9% of the company’s stock are sold short. Based on an average daily trading volume, of 464,364 shares, the short-interest ratio is currently 0.1 days.

Insider Activity

In related news, major shareholder Financial Lp Hrt purchased 23,458 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was acquired at an average price of $2.90 per share, for a total transaction of $68,028.20. Following the completion of the acquisition, the insider owned 20,247 shares of the company’s stock, valued at $58,716.30. This represents a -730.55% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders purchased 29,161 shares of company stock worth $170,247 and sold 8,704 shares worth $143,763. 40.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Weiss Ratings downgraded shares of Vision Marine Technologies from a “sell (e+)” rating to a “sell (e)” rating in a report on Tuesday. Wall Street Zen upgraded shares of Vision Marine Technologies to a “hold” rating in a report on Saturday, June 20th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Vision Marine Technologies has a consensus rating of “Sell”.

Vision Marine Technologies Price Performance

Shares of NASDAQ VMAR opened at $7.20 on Friday. Vision Marine Technologies has a twelve month low of $5.16 and a twelve month high of $6,799.20. The stock’s 50 day moving average price is $8.45 and its 200-day moving average price is $87.72. The company has a market capitalization of $10,000.00, a PE ratio of -0.00 and a beta of 0.25. The company has a quick ratio of 0.47, a current ratio of 1.26 and a debt-to-equity ratio of 1.25.

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

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.