Vision Marine Technologies Inc. (NASDAQ:VMAR) Sees Large Increase in Short Interest

Vision Marine Technologies Inc. (NASDAQ:VMAR) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 100,800 shares, an increase of 11,100.0% from the September 30th total of 900 shares. Based on an average daily volume of 187,800 shares, the short-interest ratio is presently 0.5 days. Approximately 15.5% of the company’s shares are sold short.

Vision Marine Technologies Stock Performance

VMAR stock opened at $3.95 on Friday. The business’s 50-day moving average price is $2.31 and its two-hundred day moving average price is $6.12. The company has a current ratio of 2.24, a quick ratio of 0.87 and a debt-to-equity ratio of 0.28. The firm has a market cap of $50.32 million, a PE ratio of -3.87 and a beta of -0.10. Vision Marine Technologies has a 1-year low of $2.69 and a 1-year high of $329.40.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Vision Marine Technologies stock. National Bank of Canada FI boosted its holdings in shares of Vision Marine Technologies Inc. (NASDAQ:VMAR) by 9,219.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,705 shares of the company’s stock after acquiring an additional 65,000 shares during the period. National Bank of Canada FI owned approximately 0.52% of Vision Marine Technologies worth $46,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 53.79% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets decreased their price objective on Vision Marine Technologies from $37.50 to $30.00 and set a “buy” rating for the company in a research note on Monday, July 29th.

About Vision Marine Technologies

Vision Marine Technologies Inc designs, develops, manufactures, sells, and rents electric boats in Canada, the United States, and internationally. It offers e-motion electric powertrain technology; e-motion electric outboard powertrain system; electric boats; maintenance, repair, and customer support services; as well as manufactures customized boats.