Vision Marine Technologies (NASDAQ:VMAR) Major Shareholder Sells 8,671 Shares of Stock

Vision Marine Technologies Inc. (NASDAQ:VMAR) major shareholder Financial Lp Hrt sold 8,671 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $1.97, for a total value of $17,081.87. Following the completion of the sale, the insider owned 22,888 shares of the company’s stock, valued at $45,089.36. This represents a 27.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Financial Lp Hrt also recently made the following trade(s):

• On Monday, June 29th, Financial Lp Hrt sold 5,087 shares of Vision Marine Technologies stock. The shares were sold at an average price of $1.99, for a total value of $10,123.13.
• On Friday, June 26th, Financial Lp Hrt purchased 876 shares of Vision Marine Technologies stock. The shares were acquired at an average cost of $1.98 per share, with a total value of $1,734.48.
• On Thursday, June 25th, Financial Lp Hrt bought 8,346 shares of Vision Marine Technologies stock. The stock was purchased at an average price of $2.00 per share, with a total value of $16,692.00.
• On Wednesday, June 24th, Financial Lp Hrt sold 679 shares of Vision Marine Technologies stock. The shares were sold at an average price of $2.24, for a total transaction of $1,520.96.
• On Tuesday, June 23rd, Financial Lp Hrt acquired 99 shares of Vision Marine Technologies stock. The shares were acquired at an average cost of $2.74 per share, with a total value of $271.26.
• On Thursday, June 18th, Financial Lp Hrt sold 1,737 shares of Vision Marine Technologies stock. The stock was sold at an average price of $3.11, for a total transaction of $5,402.07.
• On Monday, June 22nd, Financial Lp Hrt bought 6,872 shares of Vision Marine Technologies stock. The shares were purchased at an average price of $2.84 per share, with a total value of $19,516.48.
• On Wednesday, June 17th, Financial Lp Hrt bought 2,621 shares of Vision Marine Technologies stock. The shares were acquired at an average price of $3.27 per share, with a total value of $8,570.67.
• On Tuesday, June 16th, Financial Lp Hrt bought 234,583 shares of Vision Marine Technologies stock. The stock was acquired at an average cost of $0.29 per share, for a total transaction of $68,029.07.
• On Monday, June 8th, Financial Lp Hrt sold 3,540 shares of Vision Marine Technologies stock. The stock was sold at an average price of $4.00, for a total transaction of $14,160.00.

Vision Marine Technologies Price Performance

VMAR stock traded down $0.31 during midday trading on Wednesday, hitting $1.58. 14,733,020 shares of the stock were exchanged, compared to its average volume of 315,082. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.43 and a current ratio of 1.28. The stock has a market cap of $15,800.00, a price-to-earnings ratio of -0.00 and a beta of 0.12. Vision Marine Technologies Inc. has a fifty-two week low of $1.52 and a fifty-two week high of $3,080.00. The stock’s 50-day moving average price is $6.41 and its 200-day moving average price is $33.72.

Vision Marine Technologies (NASDAQ:VMAR) last released its earnings results on Tuesday, April 14th. The company reported ($23.20) earnings per share for the quarter, topping the consensus estimate of ($653.39) by $630.19. Vision Marine Technologies had a negative return on equity of 281.97% and a negative net margin of 54.94%.The firm had revenue of $14.53 million for the quarter, compared to the consensus estimate of $0.73 million.

Analyst Ratings Changes

A number of research firms have recently issued reports on VMAR. Wall Street Zen upgraded Vision Marine Technologies to a “hold” rating in a research report on Saturday, June 20th. Weiss Ratings upgraded Vision Marine Technologies from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Vision Marine Technologies stock. Sabby Management LLC acquired a new position in Vision Marine Technologies Inc. (NASDAQ:VMAR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 186,536 shares of the company’s stock, valued at approximately $254,000. Vision Marine Technologies comprises 0.3% of Sabby Management LLC’s investment portfolio, making the stock its 17th biggest holding. Sabby Management LLC owned 19.03% of Vision Marine Technologies as of its most recent filing with the Securities & Exchange Commission. 53.79% of the stock is currently owned by institutional investors and hedge funds.

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.