Vision Marine Technologies Inc. (NASDAQ:VMAR) Sees Large Increase in Short Interest

Vision Marine Technologies Inc. (NASDAQ:VMAR) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totaling 1,971,298 shares, a growth of 527.4% from the November 30th total of 314,221 shares. Based on an average trading volume of 855,969 shares, the days-to-cover ratio is presently 2.3 days. Currently, 67.4% of the shares of the stock are sold short. Currently, 67.4% of the shares of the stock are sold short. Based on an average trading volume of 855,969 shares, the days-to-cover ratio is presently 2.3 days.

Institutional Trading of Vision Marine Technologies

A hedge fund recently raised its stake in Vision Marine Technologies stock. FNY Investment Advisers LLC increased its stake in Vision Marine Technologies Inc. (NASDAQ:VMAR) by 47,079.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,179 shares of the company’s stock after acquiring an additional 47,079 shares during the period. FNY Investment Advisers LLC owned about 4.81% of Vision Marine Technologies worth $365,000 as of its most recent SEC filing. 53.79% of the stock is currently owned by institutional investors and hedge funds.

Vision Marine Technologies Stock Performance

NASDAQ:VMAR opened at $0.24 on Friday. The stock has a market cap of $1.17 million, a P/E ratio of 0.00 and a beta of 0.23. The company has a quick ratio of 0.44, a current ratio of 1.19 and a debt-to-equity ratio of 0.79. The business’s 50-day moving average price is $1.04 and its two-hundred day moving average price is $2.99. Vision Marine Technologies has a twelve month low of $0.23 and a twelve month high of $39.00.

Vision Marine Technologies (NASDAQ:VMAR) last posted its quarterly earnings data on Friday, November 28th. The company reported $197,008.60 earnings per share for the quarter, topping the consensus estimate of ($1.55) by $197,010.15. The company had revenue of $9.69 million for the quarter, compared to analysts’ expectations of $0.70 million. Vision Marine Technologies had a negative net margin of 156.52% and a negative return on equity of 198.37%. As a group, equities analysts predict that Vision Marine Technologies will post -90 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e)” rating on shares of Vision Marine Technologies in a research note on Monday, December 15th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

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.