Insider Selling: Volcon (NASDAQ:EMPD) Major Shareholder Sells $31,189.41 in Stock

Volcon, Inc. (NASDAQ:EMPD) major shareholder Tice Brown sold 11,179 shares of the business’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 directly owned 2,162,315 shares of the company’s stock, valued at approximately $6,032,858.85. The trade was a 0.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Tice Brown also recently made the following trade(s):

• On Monday, November 2nd, Tice Brown sold 4,464 shares of Volcon stock. The shares were sold at an average price of $2.66, for a total transaction of $11,874.24.

Volcon Trading Down 8.4%

EMPD stock opened at $2.07 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.44 and a debt-to-equity ratio of 0.48. Volcon, Inc. has a 12-month low of $2.05 and a 12-month high of $6.63. The stock has a market cap of $58.29 million, a price-to-earnings ratio of -1.97 and a beta of -0.36. The business’s 50-day moving average is $2.98 and its 200 day moving average is $3.78.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EMPD. Lake Street Capital initiated coverage on shares of Volcon in a research report on Tuesday, September 29th. They set a “buy” rating and a $6.00 price objective for the company. Wall Street Zen raised Volcon from a “sell” rating to a “hold” rating in a research report on Saturday, October 31st. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Volcon in a research report on Thursday, October 15th. 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, Volcon currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.

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.