Vision Marine Technologies (NASDAQ:VMAR) Posts Earnings Results, Beats Estimates By $657.73 EPS

Vision Marine Technologies (NASDAQ:VMAR) posted its earnings results on Monday. The company reported ($29.10) earnings per share for the quarter, topping the consensus estimate of ($686.83) by $657.73, Zacks reports. Vision Marine Technologies had a negative return on equity of 281.97% and a negative net margin of 54.94%.

Vision Marine Technologies Stock Performance

NASDAQ:VMAR traded up $0.14 during mid-day trading on Monday, reaching $1.41. 27,731,363 shares of the stock were exchanged, compared to its average volume of 465,473. The stock has a market capitalization of $18,330.00, a P/E ratio of -0.00 and a beta of 0.12. Vision Marine Technologies has a 1 year low of $1.00 and a 1 year high of $2,680.00. The company has a 50 day simple moving average of $4.82 and a 200-day simple moving average of $25.09. The company has a quick ratio of 0.43, a current ratio of 1.28 and a debt-to-equity ratio of 0.87.

Insiders Place Their Bets

In other news, major shareholder Financial Lp Hrt sold 34,746 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $1.25, for a total value of $43,432.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders purchased 304,095 shares of company stock valued at $223,834 and sold 91,175 shares valued at $160,390. Corporate insiders own 40.40% of the company’s stock.

Analyst Upgrades and Downgrades

VMAR has been the subject of several recent analyst reports. Wall Street Zen upgraded 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 Wednesday, June 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Vision Marine Technologies has an average 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.