Short Interest in Vision Marine Technologies Inc. (NASDAQ:VMAR) Increases By 77.9%

Vision Marine Technologies Inc. (NASDAQ:VMAR) was the target of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 359,932 shares, an increase of 77.9% from the July 30th total of 202,304 shares. Approximately 4,499.2% of the shares of the company are short sold. Based on an average daily trading volume, of 4,906,810 shares, the short-interest ratio is currently 0.1 days.

Vision Marine Technologies Price Performance

Shares of NASDAQ:VMAR opened at $7.65 on Monday. The firm has a market cap of $10,000.00, a price-to-earnings ratio of -0.02 and a beta of 0.18. Vision Marine Technologies has a 1 year low of $5.16 and a 1 year high of $6,799.20. The company has a current ratio of 1.26, a quick ratio of 0.47 and a debt-to-equity ratio of 1.25. The business has a fifty day simple moving average of $10.73 and a 200 day simple moving average of $104.96.

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

Insider Transactions at Vision Marine Technologies

In other Vision Marine Technologies news, major shareholder Financial Lp Hrt bought 23,458 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were purchased at an average cost of $2.90 per share, for a total transaction of $68,028.20. Following the transaction, the insider directly owned 20,247 shares in the company, valued at $58,716.30. The trade was a -730.55% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders purchased 30,405 shares of company stock valued at $223,739 and sold 9,113 shares valued at $160,288. 40.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

VMAR has been the subject of a number of research reports. Weiss Ratings raised Vision Marine Technologies from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. Wall Street Zen upgraded shares of Vision Marine Technologies to a “hold” rating in a report on Saturday, June 20th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Vision Marine Technologies has a consensus 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.