Vision Marine Technologies Inc. (NASDAQ:VMAR) Short Interest Up 3,202.1% in July

Vision Marine Technologies Inc. (NASDAQ:VMAR) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 977,857 shares, a growth of 3,202.1% from the June 30th total of 29,613 shares. Approximately 12,223.2% of the shares of the stock are sold short. Based on an average trading volume of 15,841,817 shares, the days-to-cover ratio is currently 0.1 days.

Insiders Place Their Bets

In other Vision Marine Technologies news, major shareholder Financial Lp Hrt acquired 234,583 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was bought at an average price of $0.29 per share, with a total value of $68,029.07. Following the purchase, the insider owned 202,475 shares in the company, valued at approximately $58,717.75. The trade was a -730.61% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have bought 304,095 shares of company stock worth $223,834 and have sold 91,175 shares worth $160,390. Insiders own 40.40% of the company’s stock.

Vision Marine Technologies Trading Down 12.4%

Shares of VMAR opened at $0.73 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.47 and a debt-to-equity ratio of 1.25. Vision Marine Technologies has a 12-month low of $0.72 and a 12-month high of $2,640.00. The firm has a 50-day moving average price of $3.13 and a 200 day moving average price of $19.43. The firm has a market capitalization of $9,477.00, a P/E ratio of -0.00 and a beta of 0.12.

Vision Marine Technologies (NASDAQ:VMAR) last released its quarterly earnings data on Monday, July 13th. The company reported ($29.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($686.83) by $657.73. Vision Marine Technologies had a negative net margin of 39.82% and a negative return on equity of 350.19%. The firm had revenue of $18.37 million during the quarter, compared to analysts’ expectations of $1.01 million.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Wall Street Zen upgraded Vision Marine Technologies to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings raised Vision Marine Technologies from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Vision Marine Technologies has an average 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.