Vision Marine Technologies (NASDAQ:VMAR) Shares Scheduled to Reverse Split on Thursday, August 22nd

Vision Marine Technologies Inc. (NASDAQ:VMAR)’s stock is scheduled to reverse split on Thursday, August 22nd. The 1-15 reverse split was announced on Tuesday, August 20th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, August 21st.

Vision Marine Technologies Stock Down 21.5 %

NASDAQ VMAR traded down $0.10 on Tuesday, reaching $0.35. 600,137 shares of the company were exchanged, compared to its average volume of 113,873. Vision Marine Technologies has a fifty-two week low of $0.35 and a fifty-two week high of $4.00. The business’s fifty day moving average price is $0.47 and its 200 day moving average price is $0.60. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 2.24.

Vision Marine Technologies (NASDAQ:VMAR) last announced its quarterly earnings results on Monday, July 15th. The company reported ($0.18) EPS for the quarter. Vision Marine Technologies had a negative net margin of 330.67% and a negative return on equity of 165.58%. The business had revenue of $0.47 million during the quarter.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets cut their price objective on Vision Marine Technologies from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Monday, July 29th.

Institutional Trading of Vision Marine Technologies

An institutional investor recently raised its position in Vision Marine Technologies stock. National Bank of Canada FI boosted its position in Vision Marine Technologies Inc. (NASDAQ:VMAR) by 9,219.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,705 shares of the company’s stock after purchasing an additional 65,000 shares during the period. National Bank of Canada FI owned about 0.52% of Vision Marine Technologies worth $46,000 as of its most recent SEC filing. Institutional investors and hedge funds own 53.79% of the company’s stock.

Vision Marine Technologies Company Profile

Vision Marine Technologies Inc designs, develops, manufactures, sells, and rents electric boats in Canada, the United States, and internationally. It offers e-motion electric powertrain technology; e-motion electric outboard powertrain system; electric boats; maintenance, repair, and customer support services; as well as manufactures customized boats.