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 in 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. Based on an average daily trading volume, of 15,841,817 shares, the short-interest ratio is presently 0.1 days. Currently, 12,223.2% of the shares of the company are sold short.

Analysts Set New Price Targets

VMAR has been the topic of several recent analyst reports. Wall Street Zen raised shares of 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 research note on Monday. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Vision Marine Technologies currently has an average rating of “Sell”.

Vision Marine Technologies Stock Down 12.4%

Shares of VMAR traded down $0.10 during mid-day trading on Friday, hitting $0.73. 811,603 shares of the company’s stock were exchanged, compared to its average volume of 1,444,942. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.47 and a current ratio of 1.26. Vision Marine Technologies has a fifty-two week low of $0.72 and a fifty-two week high of $2,640.00. The company has a market cap of $7,290.00, a price-to-earnings ratio of -0.00 and a beta of 0.12. The stock’s 50-day moving average is $3.13 and its 200-day moving average is $19.43.

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

Insider Activity

In other news, major shareholder Financial Lp Hrt sold 34,746 shares of the firm’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $1.25, for a total transaction of $43,432.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have bought 304,095 shares of company stock worth $223,834 and have sold 91,175 shares worth $160,390. 40.40% of the stock is currently owned by insiders.

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.