Insider Buying: Volcon (NASDAQ:EMPD) Major Shareholder Buys $1,833,000.00 in Stock

Volcon, Inc. (NASDAQ:EMPD) major shareholder Empery Asset Management, Lp acquired 650,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was purchased at an average cost of $2.82 per share, for a total transaction of $1,833,000.00. Following the purchase, the insider directly owned 3,680,345 shares in the company, valued at approximately $10,378,572.90. This represents a 21.45% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Empery Asset Management, Lp also recently made the following trade(s):

• On Thursday, August 13th, Empery Asset Management, Lp bought 750,000 shares of Volcon stock. The shares were purchased at an average cost of $2.98 per share, with a total value of $2,235,000.00.

Volcon Price Performance

NASDAQ:EMPD traded up $0.07 during mid-day trading on Friday, reaching $2.90. 252,634 shares of the stock were exchanged, compared to its average volume of 661,325. The company has a current ratio of 2.03, a quick ratio of 1.97 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average price of $3.43 and a 200 day moving average price of $4.11. Volcon, Inc. has a 1-year low of $2.48 and a 1-year high of $10.15. The firm has a market capitalization of $81.38 million, a PE ratio of -3.66 and a beta of -0.38.

Analysts Set New Price Targets

Several analysts recently commented on EMPD shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Volcon in a research note on Friday, July 17th. Wall Street Zen raised Volcon from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Zacks Research upgraded Volcon to a “hold” rating in a research report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Volcon Company Profile

Volcon, Inc (NASDAQ: EMPD) is a Texas‐based powersports company specializing in the design, development and distribution of electric off-road vehicles. Headquartered in Austin, Volcon aims to introduce zero-emission solutions to the traditionally gas-powered UTV and dirt bike markets. The company’s modular vehicle platforms blend electric drivetrains with rugged chassis designs, targeting recreational and utility riders seeking sustainable alternatives for trail, sand and farm use.

Volcon’s product lineup includes the Stag, a side-by-side utility terrain vehicle (UTV) engineered for work and play; the Grunt, an entry-level electric dirt bike offering trail-ready performance; and the Ranger, a dual-purpose e-adventure motorcycle suited for longer off-road excursions.