Short Interest in Vision Marine Technologies Inc. (NASDAQ:VMAR) Drops By 29.2%

Vision Marine Technologies Inc. (NASDAQ:VMAR) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totaling 71,790 shares, a drop of 29.2% from the March 31st total of 101,389 shares. Approximately 95.7% of the company’s shares are short sold. Based on an average trading volume of 118,338 shares, the short-interest ratio is presently 0.6 days.

Vision Marine Technologies Stock Down 6.7%

Vision Marine Technologies stock opened at $1.12 on Wednesday. Vision Marine Technologies has a twelve month low of $1.10 and a twelve month high of $355.20. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.43 and a current ratio of 1.28. The firm has a market cap of $145,600.00, a PE ratio of -0.01 and a beta of 0.42. The firm’s 50 day moving average price is $2.09 and its two-hundred day moving average price is $18.92.

Vision Marine Technologies (NASDAQ:VMAR) last posted its quarterly earnings results on Tuesday, April 14th. The company reported ($2.32) EPS for the quarter, beating the consensus estimate of ($65.34) by $63.02. Vision Marine Technologies had a negative net margin of 54.94% and a negative return on equity of 281.97%. The business had revenue of $10.65 million for the quarter, compared to analysts’ expectations of $0.73 million.

Hedge Funds Weigh In On Vision Marine Technologies

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Vision Marine Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently 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.