Vision Marine Technologies (NASDAQ:VMAR) Posts Earnings Results, Beats Expectations By $657.73 EPS

Vision Marine Technologies (NASDAQ:VMAR) announced its earnings results on Monday. The company reported ($29.10) earnings per share for the quarter, topping the consensus estimate of ($686.83) by $657.73, Zacks reports. Vision Marine Technologies had a negative net margin of 54.94% and a negative return on equity of 281.97%.

Vision Marine Technologies Stock Performance

Shares of VMAR stock traded up $0.14 during mid-day trading on Monday, hitting $1.41. The stock had a trading volume of 27,731,363 shares, compared to its average volume of 465,473. The firm has a market cap of $18,330.00, a PE ratio of -0.00 and a beta of 0.12. The company’s 50-day simple moving average is $4.82 and its 200-day simple moving average is $25.09. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.28 and a quick ratio of 0.43. Vision Marine Technologies has a fifty-two week low of $1.00 and a fifty-two week high of $2,680.00.

Insider Activity

In other news, major shareholder Financial Lp Hrt purchased 234,583 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was purchased at an average cost of $0.29 per share, with a total value of $68,029.07. Following the completion of the acquisition, the insider directly owned 202,475 shares of the company’s stock, valued at approximately $58,717.75. This trade represents a -730.61% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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. 40.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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