Vision Marine Technologies Inc. (NASDAQ:VMAR) Stock Short Interest Declines 45.4%

Vision Marine Technologies Inc. (NASDAQ:VMAR) was the recipient of a large decrease in short interest during the month of September. As of September 15th, there was short interest totaling 36,561 shares, a decrease of 45.4% from the August 31st total of 66,919 shares. Approximately 3,656.1% of the company’s stock are short sold. Based on an average daily volume of 65,619 shares, the days-to-cover ratio is currently 0.6 days.

Vision Marine Technologies Stock Performance

Vision Marine Technologies stock traded down $0.18 during mid-day trading on Wednesday, reaching $7.45. 10,279 shares of the company traded hands, compared to its average volume of 171,893. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.26 and a quick ratio of 0.47. Vision Marine Technologies has a fifty-two week low of $5.16 and a fifty-two week high of $6,799.20. The company has a market capitalization of $7,446.00, a price-to-earnings ratio of -0.00 and a beta of 0.25. The firm’s fifty day moving average is $7.41 and its two-hundred day moving average is $66.28.

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Vision Marine Technologies news, major shareholder Financial Lp Hrt sold 3,474 shares of Vision Marine Technologies stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $12.50, for a total value of $43,425.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders bought a total of 3,824 shares of company stock worth $55,491 over the last 90 days. 40.40% of the stock is owned by company insiders.

About Vision Marine Technologies

Vision Marine Technologies Inc is a Canadian marine technology company focused on developing electric propulsion systems and fully electric recreational boats. The company’s products are designed to provide a lower-emission alternative to conventional gasoline-powered marine propulsion for recreational and performance boating applications.

Its principal technology is the E-Motion electric powertrain, which integrates an electric outboard motor with battery systems, onboard controls and related marine components.