Short Interest in Vision Marine Technologies Inc. (NASDAQ:VMAR) Drops By 76.5%

Vision Marine Technologies Inc. (NASDAQ:VMAR) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 23,700 shares, a decline of 76.5% from the October 15th total of 100,800 shares. Based on an average daily volume of 579,500 shares, the days-to-cover ratio is presently 0.0 days. Currently, 5.0% of the company’s shares are short sold.

Vision Marine Technologies Trading Down 7.1 %

Shares of Vision Marine Technologies stock traded down $0.22 during trading on Tuesday, reaching $2.90. 21,013 shares of the company were exchanged, compared to its average volume of 172,742. The business has a 50-day moving average price of $2.31 and a 200-day moving average price of $5.70. The firm has a market capitalization of $2.27 million, a price-to-earnings ratio of -0.02 and a beta of -0.05. 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 twelve month low of $2.69 and a twelve month high of $275.40.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets reduced their price objective on shares of Vision Marine Technologies from $37.50 to $30.00 and set a “buy” rating on the stock in a research note 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 grew its position in Vision Marine Technologies Inc. (NASDAQ:VMAR) by 9,219.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 65,705 shares of the company’s stock after buying an additional 65,000 shares during the period. National Bank of Canada FI owned approximately 0.52% of Vision Marine Technologies worth $46,000 at the end of the most recent quarter. 53.79% of the stock is owned by institutional investors and hedge funds.

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.