Volcon (NASDAQ:EMPD) Stock Bumped Up to Hold by Wall Street Zen

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

Several other equities analysts have also commented on EMPD. Lake Street Capital started coverage on Volcon in a report on Tuesday, September 29th. They set a “buy” rating and a $6.00 target price for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Volcon in a report 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 given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Volcon has an average rating of “Moderate Buy” and an average price target of $6.00.

Volcon Price Performance

Shares of NASDAQ:EMPD opened at $2.69 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.47 and a debt-to-equity ratio of 0.48. Volcon has a fifty-two week low of $2.48 and a fifty-two week high of $7.11. The firm has a 50-day simple moving average of $3.03 and a 200 day simple moving average of $3.83. The company has a market cap of $75.75 million, a PE ratio of -2.56 and a beta of -0.35.

Insider Buying and Selling at Volcon

In other Volcon news, major shareholder Empery Asset Management, Lp purchased 500,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were bought at an average price of $3.59 per share, with a total value of $1,795,000.00. Following the completion of the acquisition, the insider owned 4,930,345 shares in the company, valued at approximately $17,699,938.55. This represents a 11.29% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased a total of 1,900,000 shares of company stock worth $5,863,000 over the last quarter. 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.