Volcon (NASDAQ:EMPD) Stock Falls 2% – Time to Sell?

Volcon, Inc. (NASDAQ:EMPD) shares were down 2% during trading on Wednesday. The company traded as low as $2.97 and last traded at $2.98. Approximately 213,653 shares were traded during trading, a decline of 37% from the average daily volume of 339,429 shares. The stock had previously closed at $3.04.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Volcon in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Volcon Stock Down 1.4%

The company has a current ratio of 0.47, a quick ratio of 0.44 and a debt-to-equity ratio of 0.48. The stock’s 50-day moving average is $3.04 and its 200-day moving average is $3.89. The company has a market cap of $81.38 million, a price-to-earnings ratio of -2.75 and a beta of -0.34.

Insiders Place Their Bets

In related news, major shareholder Empery Asset Management, Lp acquired 500,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were purchased at an average price of $3.59 per share, for a total transaction of $1,795,000.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired 1,900,000 shares of company stock valued at $5,863,000 over the last ninety days. Insiders own 0.13% of the company’s stock.

About Volcon

Volcon, Inc is a powersports company focused on the design and development of fully electric off-road vehicles. Its product portfolio has included electric motorcycles, utility terrain vehicles and related powersports products intended for recreational riding, outdoor work and other off-road applications.

The company’s offerings have included the Grunt and Runt electric motorcycles, which feature wide tires designed for use on varied terrain, as well as the Stag electric utility terrain vehicle.