Insider Buying: Vision Marine Technologies (NASDAQ:VMAR) Major Shareholder Purchases $53,512.64 in Stock

Vision Marine Technologies Inc. (NASDAQ:VMAR) major shareholder Financial Lp Hrt acquired 124,448 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were acquired at an average price of $0.43 per share, with a total value of $53,512.64. Following the completion of the transaction, the insider directly owned 111,892 shares in the company, valued at approximately $48,113.56. This trade represents a -991.14% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more 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 4th, Financial Lp Hrt sold 5,569 shares of Vision Marine Technologies stock. The stock was sold at an average price of $0.43, for a total value of $2,394.67.

Vision Marine Technologies Stock Performance

Shares of NASDAQ VMAR opened at $0.39 on Monday. Vision Marine Technologies Inc. has a one year low of $0.35 and a one year high of $351.20. The firm has a market capitalization of $50,388.00, a PE ratio of 0.00 and a beta of 0.07. The company has a current ratio of 1.28, a quick ratio of 0.43 and a debt-to-equity ratio of 0.87. The business has a 50-day moving average price of $1.23 and a two-hundred day moving average price of $8.41.

Vision Marine Technologies (NASDAQ:VMAR) last announced its quarterly earnings data on Tuesday, April 14th. The company reported ($2.32) EPS for the quarter, topping analysts’ consensus estimates of ($65.34) by $63.02. The firm had revenue of $14.53 million during the quarter, compared to analyst estimates of $0.73 million. Vision Marine Technologies had a negative return on equity of 281.97% and a negative net margin of 54.94%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Vision Marine Technologies from a “sell (e+)” rating to a “sell (e)” rating in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Institutional Investors Weigh In On Vision Marine Technologies

An institutional investor recently bought a new position in Vision Marine Technologies stock. Sabby Management LLC purchased a new stake in shares of Vision Marine Technologies Inc. (NASDAQ:VMAR) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. 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 holdings, making the stock its 17th biggest position. Sabby Management LLC owned approximately 19.03% of Vision Marine Technologies as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 53.79% of the company’s stock.

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.