Vision Marine Technologies Inc. (NASDAQ:VMAR) Shares Shorted: Short Interest Down 45.4% in September

Vision Marine Technologies Inc. (NASDAQ:VMAR) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 36,561 shares, a decline of 45.4% from the August 31st total of 66,919 shares. Based on an average trading volume of 65,619 shares, the short-interest ratio is presently 0.6 days. Currently, 3,656.1% of the shares of the company are sold short.

Vision Marine Technologies Stock Performance

Shares of NASDAQ VMAR traded down $0.18 during midday trading on Wednesday, reaching $7.45. 10,279 shares of the stock were exchanged, compared to its average volume of 171,893. The company has a quick ratio of 0.47, a current ratio of 1.26 and a debt-to-equity ratio of 1.25. The firm has a market cap of $7,446.00, a price-to-earnings ratio of -0.00 and a beta of 0.25. The firm has a 50-day simple moving average of $7.41 and a two-hundred day simple moving average of $66.28. Vision Marine Technologies has a twelve month low of $5.16 and a twelve month high of $6,799.20.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on VMAR. Wall Street Zen upgraded shares of Vision Marine Technologies to a “hold” rating in a research report on Saturday, June 20th. Weiss Ratings upgraded Vision Marine Technologies from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Insider Activity at Vision Marine Technologies

In other news, major shareholder Financial Lp Hrt sold 3,474 shares of the company’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $12.50, for a total value of $43,425.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have acquired 3,824 shares of company stock valued at $55,491. 40.40% of the stock is owned by corporate insiders.

Vision Marine Technologies Company Profile

Vision Marine Technologies Inc is a Canadian marine technology company focused on developing electric propulsion systems and fully electric recreational boats. The company’s products are designed to provide a lower-emission alternative to conventional gasoline-powered marine propulsion for recreational and performance boating applications.

Its principal technology is the E-Motion electric powertrain, which integrates an electric outboard motor with battery systems, onboard controls and related marine components.