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

Vision Marine Technologies Inc. (NASDAQ:VMAR) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 157,200 shares, a growth of 272.5% from the August 31st total of 42,200 shares. Based on an average daily trading volume, of 890,100 shares, the days-to-cover ratio is currently 0.2 days. Currently, 9.4% of the company’s shares are short sold.

Vision Marine Technologies Trading Down 11.2 %

Shares of VMAR opened at $0.58 on Wednesday. The firm’s 50-day simple moving average is $1.01 and its two-hundred day simple moving average is $0.74. Vision Marine Technologies has a fifty-two week low of $0.57 and a fifty-two week high of $46.87. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 2.24.

Vision Marine Technologies (NASDAQ:VMAR) last issued its quarterly earnings data on Monday, July 15th. The company reported ($0.18) earnings per share for the quarter. The company had revenue of $0.47 million for the quarter. Vision Marine Technologies had a negative net margin of 330.67% and a negative return on equity of 165.58%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Vision Marine Technologies stock. National Bank of Canada FI lifted its position in Vision Marine Technologies Inc. (NASDAQ:VMAR) by 9,219.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,705 shares of the company’s stock after purchasing an additional 65,000 shares during the period. 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 and Exchange Commission (SEC). Hedge funds and other institutional investors own 53.79% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets cut their price objective on shares of Vision Marine Technologies from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Monday, July 29th.

About Vision Marine Technologies

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.