Vision Marine Technologies Inc. (NASDAQ:VMAR) Short Interest Update

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

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets reduced their price objective on 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.

Vision Marine Technologies Price Performance

NASDAQ VMAR traded down $0.22 on Tuesday, hitting $2.90. 21,013 shares of the company were exchanged, compared to its average volume of 172,742. 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 company has a market cap of $2.27 million, a P/E ratio of -0.02 and a beta of -0.05. Vision Marine Technologies has a 1-year low of $2.69 and a 1-year high of $275.40. The firm has a 50 day moving average of $2.31 and a two-hundred day moving average of $5.70.

Hedge Funds Weigh In On Vision Marine Technologies

An institutional investor recently raised its position in Vision Marine Technologies stock. National Bank of Canada FI boosted its position 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 filing with the SEC. The institutional investor owned 65,705 shares of the company’s stock after buying an additional 65,000 shares during the quarter. National Bank of Canada FI owned approximately 0.52% of Vision Marine Technologies worth $46,000 as of its most recent SEC filing. 53.79% of the stock is currently owned by hedge funds and other institutional investors.

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.