Vision Marine Technologies (NASDAQ:VMAR) Major Shareholder Financial Lp Hrt Purchases 234,583 Shares

Vision Marine Technologies Inc. (NASDAQ:VMAR) major shareholder Financial Lp Hrt acquired 234,583 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was purchased at an average cost of $0.29 per share, with a total value of $68,029.07. Following the completion of the purchase, the insider directly owned 202,475 shares of the company’s stock, valued at approximately $58,717.75. This represents a -730.61% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more 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 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 value of $14,160.00.
• On Thursday, June 4th, Financial Lp Hrt sold 556 shares of Vision Marine Technologies stock. The shares were sold at an average price of $4.30, for a total value of $2,390.80.
• On Wednesday, June 3rd, Financial Lp Hrt bought 12,444 shares of Vision Marine Technologies stock. The stock was purchased at an average cost of $4.30 per share, with a total value of $53,509.20.

Vision Marine Technologies Stock Performance

NASDAQ VMAR opened at $2.97 on Friday. 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 company has a market cap of $29,700.00, a P/E ratio of -0.01 and a beta of 0.07. The stock has a 50-day moving average of $9.25 and a two-hundred day moving average of $53.90. Vision Marine Technologies Inc. has a 1-year low of $2.11 and a 1-year high of $3,252.00.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Vision Marine Technologies from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Vision Marine Technologies presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Vision Marine Technologies stock. Sabby Management LLC bought a new position in shares of Vision Marine Technologies Inc. (NASDAQ:VMAR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 186,536 shares of the company’s stock, valued at approximately $254,000. Vision Marine Technologies makes up approximately 0.3% of Sabby Management LLC’s portfolio, making the stock its 17th largest position. Sabby Management LLC owned 19.03% of Vision Marine Technologies at the end of the most recent reporting period. Hedge funds and other institutional investors own 53.79% of the company’s stock.

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.