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

Vision Marine Technologies Inc. (NASDAQ:VMAR) was the target of a significant 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. Based on an average daily trading volume, of 579,500 shares, the days-to-cover ratio is currently 0.0 days. Currently, 5.0% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Vision Marine Technologies

A hedge fund recently raised its stake in Vision Marine Technologies stock. National Bank of Canada FI lifted its stake 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 and Exchange Commission. The fund 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 at the end of the most recent reporting period. 53.79% of the stock is owned by institutional investors and hedge funds.

Vision Marine Technologies Stock Performance

Shares of Vision Marine Technologies stock traded up $0.05 during trading on Thursday, reaching $2.90. The company’s stock had a trading volume of 220,994 shares, compared to its average volume of 174,659. Vision Marine Technologies has a one year low of $2.69 and a one year high of $272.70. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 2.24. The firm has a market cap of $2.26 million, a price-to-earnings ratio of -0.02 and a beta of -0.05. The business’s fifty day moving average price is $2.34 and its 200-day moving average price is $5.64.

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.