Volcon (NASDAQ:EMPD) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Volcon (NASDAQ:EMPD) from a hold rating to a sell rating in a research note published on Saturday,Wall Street Zen reports.

Other equities analysts have also recently issued reports about the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Volcon in a report on Friday, July 17th. Lake Street Capital began coverage on Volcon in a report on Tuesday, September 29th. They issued a “buy” rating and a $6.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Volcon presently has an average rating of “Moderate Buy” and a consensus price target of $6.00.

Volcon Stock Down 1.3%

Shares of Volcon stock opened at $3.09 on Friday. Volcon has a twelve month low of $2.48 and a twelve month high of $8.11. The company has a quick ratio of 0.44, a current ratio of 0.47 and a debt-to-equity ratio of 0.48. The company’s 50 day moving average is $2.99 and its 200 day moving average is $3.82. The company has a market cap of $87.01 million, a price-to-earnings ratio of -2.94 and a beta of -0.35.

Insider Activity

In other Volcon news, major shareholder Empery Asset Management, Lp bought 750,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was bought at an average cost of $2.98 per share, for a total transaction of $2,235,000.00. Following the completion of the transaction, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased a total of 1,900,000 shares of company stock valued at $5,863,000 over the last quarter. Company insiders own 0.13% of the company’s stock.

Volcon Company Profile

Volcon, Inc was an electric powersports company that developed and marketed all-electric off-road vehicles. Its product portfolio included electric motorcycles, utility terrain vehicles and electric bicycles designed for recreational riding, outdoor use and utility applications.

The company’s products included the Grunt and Runt electric motorcycles, the Stag utility terrain vehicle and the Brat electric bicycle. Volcon primarily served the North American market through dealers and distributors, while also pursuing international sales and distribution opportunities.

Volcon was founded in 2020 and was headquartered in Round Rock, Texas.