Short Interest in Vision Marine Technologies Inc. (NASDAQ:VMAR) Decreases By 79.3%

Vision Marine Technologies Inc. (NASDAQ:VMAR) saw a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 202,304 shares, a drop of 79.3% from the July 15th total of 977,857 shares. Currently, 2,528.8% of the shares of the company are short sold. Based on an average daily volume of 2,928,874 shares, the days-to-cover ratio is presently 0.1 days.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on VMAR shares. Weiss Ratings downgraded Vision Marine Technologies from a “sell (e+)” rating to a “sell (e)” rating in a report on Monday, August 3rd. Wall Street Zen upgraded shares of Vision Marine Technologies to a “hold” rating in a research note on Saturday, June 20th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Insider Activity at Vision Marine Technologies

In other news, major shareholder Financial Lp Hrt sold 34,746 shares of the business’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $1.25, for a total value of $43,432.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders bought 304,095 shares of company stock worth $223,834 and sold 91,175 shares worth $160,390. Company insiders own 40.40% of the company’s stock.

Vision Marine Technologies Stock Performance

Shares of VMAR stock traded down $0.01 during midday trading on Friday, hitting $0.66. The company had a trading volume of 317,626 shares, compared to its average volume of 1,672,361. The stock has a market cap of $6,550.00, a price-to-earnings ratio of -0.00 and a beta of 0.18. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.26 and a quick ratio of 0.47. The company’s 50 day simple moving average is $1.65 and its 200 day simple moving average is $13.08. Vision Marine Technologies has a 52-week low of $0.52 and a 52-week high of $860.00.

Vision Marine Technologies (NASDAQ:VMAR) last released its quarterly earnings results on Monday, July 13th. The company reported ($29.10) EPS for the quarter, topping the consensus estimate of ($686.83) by $657.73. Vision Marine Technologies had a negative return on equity of 350.19% and a negative net margin of 39.82%.The business had revenue of $18.37 million during the quarter, compared to analysts’ expectations of $1.01 million.

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.