Vision Marine Technologies (NASDAQ:VMAR) Major Shareholder Financial Lp Hrt Sells 35,403 Shares

Vision Marine Technologies Inc. (NASDAQ:VMAR) major shareholder Financial Lp Hrt sold 35,403 shares of Vision Marine Technologies stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $0.40, for a total value of $14,161.20. Following the completion of the transaction, 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 SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases 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 acquired 124,448 shares of Vision Marine Technologies stock. The stock was acquired at an average price of $0.43 per share, for a total transaction of $53,512.64.

Vision Marine Technologies Trading Down 14.1%

Vision Marine Technologies stock opened at $0.36 on Wednesday. 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 business’s 50-day simple moving average is $1.17 and its 200-day simple moving average is $7.73. The firm has a market capitalization of $46,670.00, a PE 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.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Vision Marine Technologies from a “sell (e+)” rating to a “sell (e)” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Vision Marine Technologies currently has a consensus rating of “Sell”.

Institutional Trading of Vision Marine Technologies

A hedge fund recently bought a new stake in Vision Marine Technologies stock. Sabby Management LLC acquired a new position in shares of Vision Marine Technologies Inc. (NASDAQ:VMAR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 186,536 shares of the company’s stock, valued at approximately $254,000. Vision Marine Technologies comprises about 0.3% of Sabby Management LLC’s holdings, making the stock its 17th biggest holding. Sabby Management LLC owned approximately 19.03% of Vision Marine Technologies as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 53.79% of the company’s stock.

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.