Financial Lp Hrt Sells 35,403 Shares of Vision Marine Technologies (NASDAQ:VMAR) Stock

Vision Marine Technologies Inc. (NASDAQ:VMAR) major shareholder Financial Lp Hrt sold 35,403 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $0.40, for a total value of $14,161.20. Following the completion of the transaction, the insider directly owned 87,796 shares in the company, valued at $35,118.40. The trade was a 28.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock 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.
• On Wednesday, June 3rd, Financial Lp Hrt bought 124,448 shares of Vision Marine Technologies stock. The shares were bought at an average cost of $0.43 per share, with a total value of $53,512.64.

Vision Marine Technologies Trading Down 2.1%

Shares of VMAR stock opened at $0.35 on Thursday. Vision Marine Technologies Inc. has a 12 month low of $0.32 and a 12 month high of $342.40. The company has a market cap of $45,708.00, a PE ratio of 0.00 and a beta of 0.07. The company has a quick ratio of 0.43, a current ratio of 1.28 and a debt-to-equity ratio of 0.87. The business’s 50 day moving average is $1.13 and its two-hundred day moving average is $7.43.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of 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 MarketBeat, Vision Marine Technologies currently has an average rating of “Sell”.

Institutional Investors Weigh In On Vision Marine Technologies

A hedge fund recently bought a new stake in Vision Marine Technologies stock. Sabby Management LLC purchased a new stake in shares of Vision Marine Technologies Inc. (NASDAQ:VMAR) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 186,536 shares of the company’s stock, valued at approximately $254,000. Vision Marine Technologies accounts for approximately 0.3% of Sabby Management LLC’s portfolio, making the stock its 17th largest holding. Sabby Management LLC owned approximately 19.03% of Vision Marine Technologies at the end of the most recent quarter. Institutional investors own 53.79% of the company’s stock.

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.