Vision Marine Technologies Inc. (NASDAQ:VMAR) Sees Significant Decrease in Short Interest

Vision Marine Technologies Inc. (NASDAQ:VMAR) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 23,700 shares, a decline of 76.5% from the October 15th total of 100,800 shares. Currently, 5.0% of the shares of the stock are short sold. Based on an average daily volume of 579,500 shares, the days-to-cover ratio is currently 0.0 days.

Vision Marine Technologies Price Performance

VMAR stock opened at $3.09 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 2.24. Vision Marine Technologies has a 52-week low of $2.69 and a 52-week high of $275.40. The company has a market capitalization of $2.41 million, a P/E ratio of -0.02 and a beta of -0.05. The company has a fifty day moving average price of $2.32 and a 200-day moving average price of $5.66.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets cut their price objective on Vision Marine Technologies from $37.50 to $30.00 and set a “buy” rating on the stock in a report on Monday, July 29th.

Institutional Investors Weigh In On Vision Marine Technologies

A hedge fund recently raised its stake in Vision Marine Technologies stock. National Bank of Canada FI boosted its position in Vision Marine Technologies Inc. (NASDAQ:VMAR) by 9,219.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,705 shares of the company’s stock after buying an additional 65,000 shares during the period. National Bank of Canada FI owned approximately 0.52% of Vision Marine Technologies worth $46,000 at the end of the most recent quarter. Institutional investors own 53.79% of the company’s stock.

Vision Marine Technologies Company Profile

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.