Short Interest in Vision Marine Technologies Inc. (NASDAQ:VMAR) Grows By 93.6%

Vision Marine Technologies Inc. (NASDAQ:VMAR) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 42,200 shares, an increase of 93.6% from the August 15th total of 21,800 shares. Currently, 5.1% of the company’s stock are short sold. Based on an average daily volume of 54,700 shares, the days-to-cover ratio is presently 0.8 days.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets dropped their target price 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.

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 lifted its holdings in Vision Marine Technologies Inc. (NASDAQ:VMAR) by 9,219.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 0.52% of Vision Marine Technologies worth $46,000 as of its most recent SEC filing. 53.79% of the stock is owned by hedge funds and other institutional investors.

Vision Marine Technologies Stock Up 31.3 %

VMAR traded up $0.47 during trading on Friday, hitting $1.97. The company had a trading volume of 24,755,000 shares, compared to its average volume of 166,191. The company has a market capitalization of $1.67 million, a PE ratio of -2.81 and a beta of -0.04. 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 has a one year low of $1.41 and a one year high of $53.25. The firm’s 50-day moving average price is $0.98 and its 200 day moving average price is $0.75.

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

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.