Wall Street Zen Upgrades Volcon (NASDAQ:EMPD) to Hold

Volcon (NASDAQ:EMPD) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

Other research analysts also recently issued reports about the company. Lake Street Capital assumed coverage on Volcon in a research report on Tuesday, September 29th. They issued a “buy” rating and a $6.00 price target on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Volcon in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

Volcon Price Performance

EMPD opened at $2.69 on Friday. 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 has a one year low of $2.48 and a one year high of $7.11. The company has a market capitalization of $75.75 million, a PE ratio of -2.56 and a beta of -0.36. The stock’s fifty day moving average is $3.03 and its 200-day moving average is $3.83.

Insider Buying and Selling

In related news, major shareholder Empery Asset Management, Lp acquired 500,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was purchased at an average cost of $3.59 per share, with a total value of $1,795,000.00. Following the acquisition, the insider 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 purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders purchased 1,900,000 shares of company stock worth $5,863,000. 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.