Vision Marine Technologies Inc. (NASDAQ:VMAR) Sees Significant Increase in Short Interest

Vision Marine Technologies Inc. (NASDAQ:VMAR) was the target of a large growth in short interest in April. As of April 30th, there was short interest totaling 156,408 shares, a growth of 117.9% from the April 15th total of 71,790 shares. Approximately 208.5% of the company’s shares are short sold. Based on an average daily volume of 180,890 shares, the short-interest ratio is presently 0.9 days.

Institutional Trading of Vision Marine Technologies

A hedge fund recently bought a new stake in Vision Marine Technologies stock. Sabby Management LLC bought a new position in shares of Vision Marine Technologies Inc. (NASDAQ:VMAR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 186,536 shares of the company’s stock, valued at approximately $254,000. Vision Marine Technologies makes up 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 SEC filing. 53.79% of the stock is currently owned by institutional investors.

Vision Marine Technologies Trading Down 5.5%

NASDAQ:VMAR opened at $0.76 on Friday. The business’s 50-day moving average is $1.74 and its two-hundred day moving average is $14.47. The firm has a market capitalization of $99,255.00, a PE ratio of 0.00 and a beta of 0.20. Vision Marine Technologies has a 12 month low of $0.74 and a 12 month high of $355.20. 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 (NASDAQ:VMAR) last issued its earnings results on Tuesday, April 14th. The company reported ($2.32) earnings per share for the quarter, topping the consensus estimate of ($65.34) by $63.02. Vision Marine Technologies had a negative return on equity of 281.97% and a negative net margin of 54.94%.The company had revenue of $14.53 million during the quarter, compared to the consensus estimate of $0.73 million.

Wall Street Analysts Forecast Growth

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