Short Interest in Vision Marine Technologies Inc. (NASDAQ:VMAR) Drops By 99.4%

by · The Markets Daily

Vision Marine Technologies Inc. (NASDAQ:VMAR – Get Free Report) was the recipient of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 900 shares, a decrease of 99.4% from the September 15th total of 157,200 shares. Based on an average trading volume of 117,100 shares, the days-to-cover ratio is presently 0.0 days.

Hedge Funds Weigh In On Vision Marine Technologies

An institutional investor recently raised its position in Vision Marine Technologies stock. National Bank of Canada FI grew its stake in Vision Marine Technologies Inc. (NASDAQ:VMAR – Free Report) by 9,219.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,705 shares of the company’s stock after purchasing an additional 65,000 shares during the period. National Bank of Canada FI owned about 0.52% of Vision Marine Technologies worth $46,000 at the end of the most recent quarter. 53.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets lowered their target price on shares of Vision Marine Technologies from $37.50 to $30.00 and set a “buy” rating for the company in a research note on Monday, July 29th.

Get Our Latest Stock Report on VMAR

Vision Marine Technologies Stock Performance

Shares of NASDAQ:VMAR traded up $0.22 during trading on Friday, hitting $3.22. The stock had a trading volume of 88,325 shares, compared to its average volume of 373,033. The company has a quick ratio of 0.87, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. Vision Marine Technologies has a 12-month low of $2.69 and a 12-month high of $364.50. The stock has a market capitalization of $1.77 million, a price-to-earnings ratio of -0.02 and a beta of -0.10. The stock has a 50-day simple moving average of $2.68 and a two-hundred day simple moving average of $6.50.

Vision Marine Technologies (NASDAQ:VMAR – Get Free Report) last released its quarterly earnings data on Monday, July 15th. The company reported ($2.70) earnings per share for the quarter. Vision Marine Technologies had a negative return on equity of 165.58% and a negative net margin of 330.67%. The business had revenue of $0.47 million during the quarter. On average, equities research analysts expect that Vision Marine Technologies will post -69.86 earnings per share for the current fiscal year.

Vision Marine Technologies Company Profile

(Get Free Report)

Vision Marine Technologies Inc designs, develops, manufactures, sells, and rents electric boats in Canada, the United States, and internationally. It offers e-motion electric powertrain technology; e-motion electric outboard powertrain system; electric boats; maintenance, repair, and customer support services; as well as manufactures customized boats.

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