Vision Marine Technologies Inc. (NASDAQ:VMAR) Short Interest Update

Vision Marine Technologies Inc. (NASDAQ:VMAR) was the target of a significant drop in short interest during the month of August. As of August 15th, there was short interest totalling 21,800 shares, a drop of 93.2% from the July 31st total of 320,400 shares. Currently, 0.8% of the company’s shares are sold short. Based on an average daily volume of 21,000 shares, the short-interest ratio is presently 1.0 days.

Hedge Funds Weigh In On Vision Marine Technologies

A hedge fund recently raised its stake in Vision Marine Technologies stock. National Bank of Canada FI boosted its position in shares of Vision Marine Technologies Inc. (NASDAQ:VMAR) by 9,219.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 65,705 shares of the company’s stock after purchasing an additional 65,000 shares during the quarter. National Bank of Canada FI owned about 0.52% of Vision Marine Technologies worth $46,000 as of its most recent filing with the Securities & Exchange Commission. 53.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets reduced their price target on Vision Marine Technologies from $37.50 to $30.00 and set a “buy” rating on the stock in a report on Monday, July 29th.

Vision Marine Technologies Stock Performance

VMAR stock opened at $3.07 on Wednesday. Vision Marine Technologies has a twelve month low of $2.62 and a twelve month high of $60.00. The firm has a market cap of $39.11 million, a price-to-earnings ratio of -2.88 and a beta of 0.03. The business’s fifty day simple moving average is $6.54 and its two-hundred day simple moving average is $8.77. The company has a quick ratio of 0.87, a current ratio of 2.24 and a debt-to-equity ratio of 0.28.

Vision Marine Technologies (NASDAQ:VMAR) last posted its quarterly earnings results on Monday, July 15th. The company reported ($2.70) EPS for the quarter. Vision Marine Technologies had a negative return on equity of 165.58% and a negative net margin of 330.67%. The company had revenue of $0.47 million during the quarter.

Vision Marine Technologies Company Profile

Vision Marine Technologies Inc designs, develops, manufactures, sells, and rents electric boats in Canada, the United States, and internationally. It offers e-motion electric powertrain technology; e-motion electric outboard powertrain system; electric boats; maintenance, repair, and customer support services; as well as manufactures customized boats.