Wall Street Zen downgraded shares of Volcon (NASDAQ:EMPD – Free Report) from a hold rating to a sell rating in a research report report published on Sunday morning,Wall Street Zen reports.
A number of other analysts have also issued reports on EMPD. Lake Street Capital initiated coverage on Volcon in a report on Tuesday, September 29th. They issued a “buy” rating and a $6.00 target price on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Volcon in a report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.
Check Out Our Latest Analysis on Volcon
Volcon Stock Performance
Shares of NASDAQ:EMPD opened at $2.00 on Friday. The company has a market cap of $56.32 million, a P/E ratio of -1.90 and a beta of -0.36. The stock’s 50-day moving average is $2.96 and its 200-day moving average is $3.77. Volcon has a 52-week low of $1.95 and a 52-week high of $6.61. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.44 and a current ratio of 0.47.
Volcon (NASDAQ:EMPD – Get Free Report) last posted its quarterly earnings data on Friday, November 6th. The company reported $0.80 EPS for the quarter. Volcon had a negative return on equity of 69.99% and a negative net margin of 40,260.04%. The business had revenue of $0.10 million for the quarter.
Insiders Place Their Bets
In related news, major shareholder Empery Asset Management, Lp purchased 500,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were bought at an average cost of $3.59 per share, for a total transaction of $1,795,000.00. Following the transaction, the insider directly owned 4,930,345 shares of the company’s stock, valued at approximately $17,699,938.55. This trade represents a 11.29% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Tice Brown sold 11,179 shares of the firm’s stock in a transaction on Friday, October 30th. The stock was sold at an average price of $2.79, for a total transaction of $31,189.41. Following the completion of the sale, the insider owned 2,162,315 shares in the company, valued at $6,032,858.85. This represents a 0.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders acquired 1,900,000 shares of company stock valued at $5,863,000 and sold 16,143 shares valued at $44,259. 0.13% of the stock is owned by corporate insiders.
About Volcon
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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