Volcon (NASDAQ:EMPD) Stock Dropped to Sell by Wall Street Zen

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

Several other equities research analysts also recently weighed in on the company. Lake Street Capital started coverage on Volcon in a report on Tuesday, September 29th. They issued a “buy” rating and a $6.00 price target on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Volcon in a report on Friday, July 17th. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $6.00.

Volcon Stock Up 2.3%

Shares of NASDAQ EMPD opened at $3.13 on Friday. Volcon has a 1 year low of $2.48 and a 1 year high of $8.11. The firm has a 50-day simple moving average of $3.00 and a two-hundred day simple moving average of $3.84. The company has a market cap of $88.14 million, a P/E ratio of -2.98 and a beta of -0.35. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.47 and a quick ratio of 0.44.

Insider Buying and Selling

In related news, major shareholder Empery Asset Management, Lp bought 750,000 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were acquired at an average cost of $2.98 per share, for a total transaction of $2,235,000.00. Following the purchase, the insider directly owned 4,430,345 shares of the company’s stock, valued at approximately $13,202,428.10. The trade was a 20.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have bought 1,900,000 shares of company stock valued at $5,863,000. 0.13% of the stock is owned by corporate insiders.

Volcon Company Profile

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.