Volcon (NASDAQ:EMPD) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Volcon from “hold” to “sell.” Despite the downgrade, MarketBeat reported a “Moderate Buy” consensus rating and a $6.00 average price target, with analyst opinions ranging from Strong Buy to Sell.
• Volcon shares opened at $2.00, near their one-year low of $1.95, and were down 3.4%; the company reported quarterly revenue of just $0.10 million and a negative net margin.
• Insiders’ trading was mixed: major shareholder Empery Asset Management bought 750,000 shares, while another major shareholder sold 11,179 shares. Over the past 90 days, insiders bought substantially more shares than they sold.

Volcon (NASDAQ:EMPD - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Sunday, Wall Street Zen reports.

EMPD has been the topic of several other reports. Lake Street Capital assumed coverage on shares of Volcon in a research note 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 research report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $6.00.

Volcon Trading Down 3.4%

EMPD opened at $2.00 on Friday. Volcon has a one year low of $1.95 and a one year high of $6.61. The company has a market cap of $56.32 million, a P/E ratio of -1.90 and a beta of -0.36. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.44 and a current ratio of 0.47. The business's 50-day simple moving average is $2.96 and its 200-day simple moving average is $3.77.

Volcon (NASDAQ:EMPD - Get Free Report) last posted its earnings results on Friday, November 6th. The company reported $0.80 earnings per share for the quarter. The firm had revenue of $0.10 million during the quarter. Volcon had a negative return on equity of 58.08% and a negative net margin of 43,296.70%.

Insider Activity

In other news, major shareholder Empery Asset Management, Lp acquired 750,000 shares of the company's stock in a transaction on Thursday, August 13th. The shares were bought at an average price of $2.98 per share, with a total value of $2,235,000.00. Following the completion of the acquisition, the insider owned 4,430,345 shares in the company, valued at $13,202,428.10. This trade represents a 20.38% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Tice Brown sold 11,179 shares of Volcon stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $2.79, for a total value of $31,189.41. Following the sale, the insider owned 2,162,315 shares in the company, valued at $6,032,858.85. This trade represents a 0.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have acquired 1,900,000 shares of company stock worth $5,863,000 and have sold 16,143 shares worth $44,259. Company 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.

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