Vision Marine Technologies (NASDAQ:VMAR) Major Shareholder Buys $68,029.07 in Stock

Vision Marine Technologies Inc. (NASDAQ:VMAR) major shareholder Financial Lp Hrt purchased 234,583 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was bought at an average price of $0.29 per share, for a total transaction of $68,029.07. Following the completion of the acquisition, the insider owned 202,475 shares of the company’s stock, valued at approximately $58,717.75. The trade was a -730.61% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 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 price of $4.30 per share, with a total value of $53,509.20.

Vision Marine Technologies Stock Performance

Shares of Vision Marine Technologies stock opened at $2.97 on Friday. The firm has a market cap of $29,700.00, a P/E ratio of -0.01 and a beta of 0.07. The company has a current ratio of 1.28, a quick ratio of 0.43 and a debt-to-equity ratio of 0.87. Vision Marine Technologies Inc. has a 12 month low of $2.11 and a 12 month high of $3,252.00. The stock’s fifty day moving average price is $8.90 and its 200-day moving average price is $53.54.

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

Institutional Inflows and Outflows

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) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 investment portfolio, making the stock its 17th biggest position. Sabby Management LLC owned about 19.03% of Vision Marine Technologies as of its most recent SEC filing. Hedge funds and other institutional investors own 53.79% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on VMAR shares. Weiss Ratings upgraded Vision Marine Technologies from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday. Wall Street Zen raised Vision Marine Technologies to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Vision Marine Technologies presently 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.