Vision Marine Technologies Inc. (NASDAQ:VMAR) Short Interest Down 76.5% in October

Vision Marine Technologies Inc. (NASDAQ:VMAR) was the recipient of a significant decline in short interest in 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. Based on an average daily trading volume, of 579,500 shares, the short-interest ratio is currently 0.0 days. Currently, 5.0% of the company’s stock are short sold.

Vision Marine Technologies Stock Up 1.8 %

VMAR stock traded up $0.05 during trading hours on Thursday, hitting $2.90. The company’s stock had a trading volume of 220,994 shares, compared to its average volume of 174,659. The company has a market capitalization of $2.26 million, a PE ratio of -0.02 and a beta of -0.05. The stock has a 50 day moving average price of $2.34 and a two-hundred day moving average price of $5.64. The company has a quick ratio of 0.87, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. Vision Marine Technologies has a 12 month low of $2.69 and a 12 month high of $272.70.

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 lifted its stake in shares of Vision Marine Technologies Inc. (NASDAQ:VMAR) by 9,219.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 65,705 shares of the company’s stock after acquiring an additional 65,000 shares during the quarter. National Bank of Canada FI owned about 0.52% of Vision Marine Technologies worth $46,000 as of its most recent filing with the SEC. 53.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.