Short Interest in Vision Marine Technologies Inc. (NASDAQ:VMAR) Increases By 63.4%

Vision Marine Technologies Inc. (NASDAQ:VMAR) saw a significant increase in short interest in February. As of February 27th, there was short interest totaling 119,741 shares, an increase of 63.4% from the February 12th total of 73,302 shares. Currently, 159.7% of the company’s stock are short sold. Based on an average daily volume of 145,228 shares, the days-to-cover ratio is currently 0.8 days. Based on an average daily volume of 145,228 shares, the days-to-cover ratio is currently 0.8 days. Currently, 159.7% of the company’s stock are short sold.

Hedge Funds Weigh In On Vision Marine Technologies

A hedge fund recently bought a new stake in Vision Marine Technologies stock. Sabby Management LLC purchased a new position in shares of Vision Marine Technologies Inc. (NASDAQ:VMAR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 186,536 shares of the company’s stock, valued at approximately $254,000. Vision Marine Technologies comprises approximately 0.3% of Sabby Management LLC’s investment portfolio, making the stock its 17th largest holding. Sabby Management LLC owned about 19.03% of Vision Marine Technologies as of its most recent filing with the Securities and Exchange Commission (SEC). 53.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VMAR has been the subject of a number of recent research reports. Wall Street Zen upgraded Vision Marine Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Vision Marine Technologies in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Vision Marine Technologies Stock Down 0.6%

Vision Marine Technologies stock traded down $0.02 during midday trading on Friday, hitting $2.39. 9,581 shares of the stock were exchanged, compared to its average volume of 117,937. Vision Marine Technologies has a 1 year low of $2.22 and a 1 year high of $381.20. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.11 and a quick ratio of 0.35. The firm has a market cap of $310,050.00, a P/E ratio of -0.01 and a beta of 0.35. The company has a 50 day moving average price of $3.96 and a two-hundred day moving average price of $32.20.

Vision Marine Technologies (NASDAQ:VMAR) last posted its quarterly earnings data on Tuesday, January 13th. The company reported ($0.86) earnings per share for the quarter, beating analysts’ consensus estimates of ($65.20) by $64.34. Vision Marine Technologies had a negative net margin of 84.38% and a negative return on equity of 240.59%. The company had revenue of $11.23 million during the quarter, compared to analysts’ expectations of $0.51 million. On average, sell-side analysts predict that Vision Marine Technologies will post -90 earnings per share for the current fiscal year.

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.