Short Interest in Vision Marine Technologies Inc. (NASDAQ:VMAR) Declines By 81.4%

Vision Marine Technologies Inc. (NASDAQ:VMAR) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totaling 66,919 shares, a decrease of 81.4% from the August 15th total of 359,932 shares. Approximately 6,691.9% of the company’s stock are sold short. Based on an average daily volume of 464,364 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Ratings Changes

Several research analysts have recently issued reports on VMAR shares. Wall Street Zen upgraded shares of Vision Marine Technologies to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings lowered shares of Vision Marine Technologies from a “sell (e+)” rating to a “sell (e)” rating in a research note on Tuesday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Vision Marine Technologies Stock Performance

NASDAQ:VMAR opened at $7.20 on Friday. The stock’s 50 day moving average price is $8.45 and its 200 day moving average price is $87.72. The company has a market capitalization of $7,200.00, a PE ratio of -0.00 and a beta of 0.25. The company has a quick ratio of 0.47, a current ratio of 1.26 and a debt-to-equity ratio of 1.25. Vision Marine Technologies has a 52-week low of $5.16 and a 52-week high of $6,799.20.

Vision Marine Technologies (NASDAQ:VMAR) last issued its quarterly earnings data on Monday, July 13th. The company reported ($29.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($6,868.26) by $6,839.16. The company had revenue of $18.37 million during the quarter, compared to analysts’ expectations of $1.01 million. Vision Marine Technologies had a negative return on equity of 350.19% and a negative net margin of 39.82%.

Insider Transactions at Vision Marine Technologies

In related news, major shareholder Financial Lp Hrt purchased 23,458 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were bought at an average cost of $2.90 per share, for a total transaction of $68,028.20. Following the completion of the purchase, the insider directly owned 20,247 shares of the company’s stock, valued at approximately $58,716.30. This trade represents a -730.55% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders purchased 29,161 shares of company stock valued at $170,247 and sold 8,704 shares valued at $143,763. 40.40% of the stock is owned by company insiders.

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.