Vision Marine Technologies (NASDAQ:VMAR) Major Shareholder Financial Lp Hrt Buys 234,583 Shares

Vision Marine Technologies Inc. (NASDAQ:VMAR) major shareholder Financial Lp Hrt bought 234,583 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was acquired at an average price of $0.29 per share, for a total transaction of $68,029.07. Following the completion of the transaction, the insider owned 202,475 shares in the company, valued at $58,717.75. This trade represents a -730.61% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, June 8th, Financial Lp Hrt sold 3,540 shares of Vision Marine Technologies stock. The shares were sold at an average price of $4.00, for a total value of $14,160.00.
• On Thursday, June 4th, Financial Lp Hrt sold 556 shares of Vision Marine Technologies stock. The stock was sold at an average price of $4.30, for a total value of $2,390.80.
• On Wednesday, June 3rd, Financial Lp Hrt purchased 12,444 shares of Vision Marine Technologies stock. The stock was acquired at an average cost of $4.30 per share, with a total value of $53,509.20.

Vision Marine Technologies Stock Performance

Shares of NASDAQ:VMAR traded down $0.53 on Thursday, hitting $2.97. The company’s stock had a trading volume of 201,009 shares, compared to its average volume of 63,744. The company has a market capitalization of $386,100.00, a price-to-earnings ratio of -0.01 and a beta of 0.07. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.43 and a current ratio of 1.28. Vision Marine Technologies Inc. has a 12 month low of $2.11 and a 12 month high of $3,252.00. The stock’s 50-day moving average is $9.59 and its two-hundred day moving average is $57.41.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Vision Marine Technologies from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Vision Marine Technologies has a consensus rating of “Sell”.

Institutional Trading of Vision Marine Technologies

A hedge fund recently bought a new position in Vision Marine Technologies stock. Sabby Management LLC bought a new stake in shares of Vision Marine Technologies Inc. (NASDAQ:VMAR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 186,536 shares of the company’s stock, valued at approximately $254,000. Vision Marine Technologies makes up 0.3% of Sabby Management LLC’s holdings, making the stock its 17th biggest position. Sabby Management LLC owned 19.03% of Vision Marine Technologies at the end of the most recent quarter. Institutional investors and hedge funds own 53.79% of the company’s stock.

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.