Financial Lp Hrt Sells 8,671 Shares of Vision Marine Technologies (NASDAQ:VMAR) Stock

Vision Marine Technologies Inc. (NASDAQ:VMAR) major shareholder Financial Lp Hrt sold 8,671 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $1.97, for a total transaction of $17,081.87. Following the completion of the sale, the insider directly owned 22,888 shares in the company, valued at approximately $45,089.36. This represents a 27.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Financial Lp Hrt also recently made the following trade(s):

• On Wednesday, July 1st, Financial Lp Hrt sold 24,800 shares of Vision Marine Technologies stock. The shares were sold at an average price of $2.10, for a total transaction of $52,080.00.
• On Monday, June 29th, Financial Lp Hrt sold 5,087 shares of Vision Marine Technologies stock. The stock was sold at an average price of $1.99, for a total transaction of $10,123.13.
• On Friday, June 26th, Financial Lp Hrt bought 876 shares of Vision Marine Technologies stock. The shares were purchased at an average price of $1.98 per share, with a total value of $1,734.48.
• On Thursday, June 25th, Financial Lp Hrt bought 8,346 shares of Vision Marine Technologies stock. The shares were purchased at an average price of $2.00 per share, with a total value of $16,692.00.
• On Wednesday, June 24th, Financial Lp Hrt sold 679 shares of Vision Marine Technologies stock. The shares were sold at an average price of $2.24, for a total value of $1,520.96.
• On Tuesday, June 23rd, Financial Lp Hrt purchased 99 shares of Vision Marine Technologies stock. The stock was acquired at an average price of $2.74 per share, for a total transaction of $271.26.
• On Thursday, June 18th, Financial Lp Hrt sold 1,737 shares of Vision Marine Technologies stock. The shares were sold at an average price of $3.11, for a total value of $5,402.07.
• On Monday, June 22nd, Financial Lp Hrt purchased 6,872 shares of Vision Marine Technologies stock. The shares were acquired at an average cost of $2.84 per share, with a total value of $19,516.48.
• On Wednesday, June 17th, Financial Lp Hrt purchased 2,621 shares of Vision Marine Technologies stock. The shares were acquired at an average cost of $3.27 per share, with a total value of $8,570.67.
• On Tuesday, June 16th, Financial Lp Hrt acquired 234,583 shares of Vision Marine Technologies stock. The shares were acquired at an average cost of $0.29 per share, with a total value of $68,029.07.

Vision Marine Technologies Trading Down 8.9%

VMAR opened at $1.44 on Friday. Vision Marine Technologies Inc. has a one year low of $1.41 and a one year high of $2,992.00. The company has a market cap of $18,720.00, a P/E ratio of -0.00 and a beta of 0.12. 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 business’s 50-day simple moving average is $6.15 and its 200-day simple moving average is $32.46.

Vision Marine Technologies (NASDAQ:VMAR) last issued its earnings results on Tuesday, April 14th. The company reported ($23.20) earnings per share for the quarter, topping the consensus estimate of ($653.39) by $630.19. The business had revenue of $14.53 million for the quarter, compared to analyst estimates of $0.73 million. Vision Marine Technologies had a negative return on equity of 281.97% and a negative net margin of 54.94%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Vision Marine Technologies from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday, June 17th. Wall Street Zen upgraded shares of Vision Marine Technologies to a “hold” rating in a research note on Saturday, June 20th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Institutional Trading of Vision Marine Technologies

A hedge fund recently bought a new stake in Vision Marine Technologies stock. Sabby Management LLC purchased a new position in shares of Vision Marine Technologies Inc. (NASDAQ:VMAR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 186,536 shares of the company’s stock, valued at approximately $254,000. Vision Marine Technologies accounts for approximately 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 as of its most recent SEC filing. 53.79% of the stock is currently owned by hedge funds and other institutional investors.

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.