Vision Marine Technologies (NASDAQ:VMAR) Major Shareholder Financial Lp Hrt Acquires 6,872 Shares of Stock

Vision Marine Technologies Inc. (NASDAQ:VMAR) major shareholder Financial Lp Hrt purchased 6,872 shares of the stock in a transaction dated Monday, June 22nd. The stock was purchased at an average cost of $2.84 per share, for a total transaction of $19,516.48. Following the completion of the acquisition, the insider owned 28,004 shares of the company’s stock, valued at approximately $79,531.36. This represents a 32.52% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Financial Lp Hrt also recently made the following trade(s):

• On Thursday, June 18th, Financial Lp Hrt sold 1,737 shares of Vision Marine Technologies stock. The shares were sold at an average price of $3.11, for a total transaction of $5,402.07.
• On Wednesday, June 17th, Financial Lp Hrt acquired 2,621 shares of Vision Marine Technologies stock. The shares were purchased at an average cost of $3.27 per share, with a total value of $8,570.67.
• On Tuesday, June 16th, Financial Lp Hrt bought 234,583 shares of Vision Marine Technologies stock. The shares were purchased at an average cost of $0.29 per share, for a total transaction of $68,029.07.
• On Monday, June 8th, Financial Lp Hrt sold 3,540 shares of Vision Marine Technologies stock. The stock was sold at an average price of $4.00, for a total transaction of $14,160.00.
• On Thursday, June 4th, Financial Lp Hrt sold 556 shares of Vision Marine Technologies stock. The stock was sold at an average price of $4.30, for a total transaction of $2,390.80.
• On Wednesday, June 3rd, Financial Lp Hrt purchased 12,444 shares of Vision Marine Technologies stock. The stock was purchased at an average cost of $4.30 per share, with a total value of $53,509.20.

Vision Marine Technologies Stock Up 1.9%

VMAR opened at $2.72 on Wednesday. The company has a fifty day moving average price of $8.20 and a 200-day moving average price of $45.25. The firm has a market capitalization of $27,200.00, a P/E ratio of -0.00 and a beta of 0.07. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.28 and a quick ratio of 0.43. Vision Marine Technologies Inc. has a one year low of $2.11 and a one year high of $3,180.00.

Vision Marine Technologies (NASDAQ:VMAR) last released its quarterly earnings results on Tuesday, April 14th. The company reported ($23.20) earnings per share for the quarter, topping the consensus estimate of ($653.39) by $630.19. Vision Marine Technologies had a negative net margin of 54.94% and a negative return on equity of 281.97%. The firm had revenue of $14.53 million for the quarter, compared to analysts’ expectations of $0.73 million.

Institutional Investors 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) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent reporting period. 53.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on VMAR shares. Weiss Ratings raised Vision Marine Technologies from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday, June 17th. Wall Street Zen upgraded shares of Vision Marine Technologies to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company 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.