Volcon (NASDAQ:EMPD – Get Free Report) posted its quarterly earnings data on Friday. The company reported $0.80 EPS for the quarter, FiscalAI reports. The company had revenue of $0.10 million during the quarter. Volcon had a negative net margin of 43,296.70% and a negative return on equity of 58.08%.
Volcon Trading Down 3.4%
Shares of NASDAQ EMPD traded down $0.07 during mid-day trading on Friday, reaching $2.00. The company had a trading volume of 172,188 shares, compared to its average volume of 132,394. The business’s 50-day moving average is $2.96 and its 200-day moving average is $3.77. The company has a current ratio of 0.47, a quick ratio of 0.44 and a debt-to-equity ratio of 0.48. The stock has a market cap of $56.32 million, a price-to-earnings ratio of -1.90 and a beta of -0.36. Volcon has a 52 week low of $1.95 and a 52 week high of $6.61.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on EMPD. Lake Street Capital initiated coverage on Volcon in a research report on Tuesday, September 29th. They set a “buy” rating and a $6.00 target price for the company. Wall Street Zen upgraded Volcon from a “sell” rating to a “hold” rating in a report on Saturday, October 31st. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Volcon in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Volcon presently has an average rating of “Moderate Buy” and an average target price of $6.00.
Read Our Latest Analysis on EMPD
Insider Activity
In related news, major shareholder Empery Asset Management, Lp acquired 750,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was bought at an average price of $2.98 per share, for a total transaction of $2,235,000.00. Following the acquisition, the insider directly owned 4,430,345 shares of the company’s stock, valued at $13,202,428.10. This represents a 20.38% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Tice Brown sold 11,179 shares of the business’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $2.79, for a total transaction of $31,189.41. Following the completion of the sale, the insider directly owned 2,162,315 shares of the company’s stock, valued at approximately $6,032,858.85. This trade represents a 0.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders purchased 1,900,000 shares of company stock worth $5,863,000 and sold 16,143 shares worth $44,259. Company insiders own 0.13% of the company’s stock.
Volcon Company Profile
Volcon, Inc was an American powersports company focused on developing and selling all-electric off-road vehicles. Its product lineup included electric motorcycles and powersports vehicles designed for recreational riding, utility use and outdoor applications.
The company’s products included the Grunt and Runt electric motorcycles, the Brat electric bike and the Stag electric utility terrain vehicle. Volcon marketed its vehicles through a combination of direct sales, dealers and distribution partners, primarily serving customers in the United States and select international markets.
Founded in 2020 and headquartered in Texas, Volcon was led during its operating years by Chief Executive Officer Jordan Davis, among other executives and board members.
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