Insider Selling: Vision Marine Technologies (NASDAQ:VMAR) Major Shareholder Sells 35,403 Shares of Stock

Vision Marine Technologies Inc. (NASDAQ:VMAR) major shareholder Financial Lp Hrt sold 35,403 shares of Vision Marine Technologies stock in a transaction on Monday, June 8th. The stock was sold at an average price of $0.40, for a total value of $14,161.20. Following the sale, the insider owned 87,796 shares in the company, valued at $35,118.40. The trade was a 28.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, June 4th, Financial Lp Hrt sold 5,569 shares of Vision Marine Technologies stock. The stock was sold at an average price of $0.43, for a total value of $2,394.67.
• On Wednesday, June 3rd, Financial Lp Hrt bought 124,448 shares of Vision Marine Technologies stock. The shares were acquired at an average price of $0.43 per share, for a total transaction of $53,512.64.

Vision Marine Technologies Stock Performance

Shares of NASDAQ VMAR traded down $0.06 during mid-day trading on Tuesday, reaching $0.36. 2,742,537 shares of the company’s stock were exchanged, compared to its average volume of 423,546. The firm has a market capitalization of $46,800.00, a price-to-earnings ratio of 0.00 and a beta of 0.07. Vision Marine Technologies Inc. has a 52 week low of $0.33 and a 52 week high of $351.20. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.28 and a quick ratio of 0.43. The firm has a 50-day moving average price of $1.20 and a two-hundred day moving average price of $8.07.

Vision Marine Technologies (NASDAQ:VMAR) last released its earnings results on Tuesday, April 14th. The company reported ($2.32) EPS for the quarter, topping analysts’ consensus estimates of ($65.34) by $63.02. The company had revenue of $14.53 million for the quarter, compared to analysts’ expectations of $0.73 million. Vision Marine Technologies had a negative return on equity of 281.97% and a negative net margin of 54.94%.

Institutional Investors Weigh In On Vision Marine Technologies

An institutional investor recently bought a new position in Vision Marine Technologies stock. Sabby Management LLC acquired a new stake in Vision Marine Technologies Inc. (NASDAQ:VMAR) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 186,536 shares of the company’s stock, valued at approximately $254,000. Vision Marine Technologies accounts for 0.3% of Sabby Management LLC’s portfolio, making the stock its 17th largest holding. Sabby Management LLC owned 19.03% of Vision Marine Technologies as of its most recent SEC filing. 53.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings cut Vision Marine Technologies from a “sell (e+)” rating to a “sell (e)” rating in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Vision Marine Technologies Company Profile

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.