Short Interest in Vision Marine Technologies Inc. (NASDAQ:VMAR) Drops By 95.4%

Vision Marine Technologies Inc. (NASDAQ:VMAR) was the target of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totaling 37,130 shares, a decrease of 95.4% from the December 31st total of 809,869 shares. Currently, 49.5% of the company’s stock are sold short. Based on an average daily volume of 121,627 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 121,627 shares, the days-to-cover ratio is presently 0.3 days. Currently, 49.5% of the company’s stock are sold short.

Vision Marine Technologies Stock Performance

Shares of NASDAQ VMAR opened at $4.07 on Wednesday. Vision Marine Technologies has a 1 year low of $3.84 and a 1 year high of $592.00. The firm has a market cap of $508,750.00, a P/E ratio of -0.01 and a beta of 0.27. The stock has a fifty day moving average price of $19.51 and a two-hundred day moving average price of $72.26. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.35 and a current ratio of 1.11.

Vision Marine Technologies (NASDAQ:VMAR) last issued its quarterly earnings results on Tuesday, January 13th. The company reported ($0.86) EPS for the quarter, topping the consensus estimate of ($65.20) by $64.34. Vision Marine Technologies had a negative net margin of 84.38% and a negative return on equity of 240.59%. The firm had revenue of $11.23 million for the quarter, compared to analysts’ expectations of $0.51 million. Research analysts forecast that Vision Marine Technologies will post -90 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Vision Marine Technologies stock. FNY Investment Advisers LLC lifted its stake in Vision Marine Technologies Inc. (NASDAQ:VMAR) by 47,079.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,179 shares of the company’s stock after purchasing an additional 47,079 shares during the quarter. FNY Investment Advisers LLC owned 4.81% of Vision Marine Technologies worth $365,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 53.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Vision Marine Technologies in a report on Monday, December 29th. Wall Street Zen upgraded Vision Marine Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently 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.