Vision Marine Technologies (NASDAQ:VMAR) Releases Quarterly Earnings Results, Beats Estimates By $657.73 EPS

Vision Marine Technologies (NASDAQ:VMAR) released its quarterly earnings results on Monday. The company reported ($29.10) EPS for the quarter, topping the consensus estimate of ($686.83) by $657.73, Zacks reports. The business had revenue of $18.37 million for the quarter, compared to analysts’ expectations of $1.01 million. Vision Marine Technologies had a negative return on equity of 281.97% and a negative net margin of 54.94%.

Vision Marine Technologies Stock Performance

Shares of VMAR stock opened at $1.41 on Tuesday. The stock has a market capitalization of $14,100.00, a price-to-earnings ratio of -0.00 and a beta of 0.12. Vision Marine Technologies has a one year low of $1.00 and a one year high of $2,680.00. The company’s 50-day simple moving average is $4.58 and its 200-day simple moving average is $24.35. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.43 and a current ratio of 1.28.

Insiders Place Their Bets

In other Vision Marine Technologies news, major shareholder Financial Lp Hrt sold 34,746 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $1.25, for a total transaction of $43,432.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders bought 304,095 shares of company stock valued at $223,834 and sold 91,175 shares valued at $160,390. 40.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on VMAR shares. Wall Street Zen upgraded Vision Marine Technologies to a “hold” rating in a 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 Wednesday, June 17th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Vision Marine Technologies currently has a consensus rating of “Sell”.

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.