Short Interest in Vision Marine Technologies Inc. (NASDAQ:VMAR) Drops By 58.9%

Vision Marine Technologies Inc. (NASDAQ:VMAR) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 809,869 shares, a decrease of 58.9% from the December 15th total of 1,971,298 shares. Approximately 27.7% of the company’s stock are short sold. Based on an average daily trading volume, of 53,969,902 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily trading volume, of 53,969,902 shares, the days-to-cover ratio is currently 0.0 days. Approximately 27.7% of the company’s stock are short sold.

Institutional Trading of Vision Marine Technologies

A hedge fund recently bought a new stake in Vision Marine Technologies stock. Sabby Management LLC acquired a new stake in shares of Vision Marine Technologies Inc. (NASDAQ:VMAR) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 186,536 shares of the company’s stock, valued at approximately $254,000. Vision Marine Technologies comprises about 0.3% of Sabby Management LLC’s holdings, making the stock its 17th largest holding. Sabby Management LLC owned 19.03% of Vision Marine Technologies at the end of the most recent reporting period. 53.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Vision Marine Technologies in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Vision Marine Technologies Stock Down 9.0%

Shares of Vision Marine Technologies stock opened at $0.14 on Wednesday. The business has a 50-day moving average price of $0.72 and a 200 day moving average price of $2.29. Vision Marine Technologies has a fifty-two week low of $0.12 and a fifty-two week high of $25.50. The firm has a market cap of $662,850.00, a P/E ratio of 0.00 and a beta of 0.27. The company has a quick ratio of 0.44, a current ratio of 1.19 and a debt-to-equity ratio of 0.79.

Vision Marine Technologies (NASDAQ:VMAR) last issued its earnings results on Monday, January 12th. The company reported ($34.40) EPS for the quarter, topping the consensus estimate of ($65.20) by $30.80. Vision Marine Technologies had a negative return on equity of 198.37% and a negative net margin of 156.52%.The company had revenue of $15.57 million during the quarter, compared to analyst estimates of $0.51 million. On average, sell-side analysts forecast that Vision Marine Technologies will post -90 earnings per share for the current fiscal year.

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.