Volcon (NASDAQ:EMPD) Major Shareholder Buys $1,795,000.00 in Stock

Key Points

• Empery Asset Management bought 500,000 Volcon shares for approximately $1.795 million, increasing its ownership by 11.29% to 4.93 million shares.
• The major shareholder has also purchased 1.4 million additional shares in two August transactions, spending a combined $4.07 million.
• Volcon shares fell 7.1% to $3.26, while analyst sentiment remained mixed with an overall “Hold” rating and the company reporting weak liquidity ratios.

Volcon, Inc. (NASDAQ:EMPD - Get Free Report) major shareholder Empery Asset Management, Lp bought 500,000 shares of the firm's stock in a transaction dated Tuesday, September 1st. The shares were acquired at an average cost of $3.59 per share, with a total value of $1,795,000.00. Following the completion of the transaction, the insider owned 4,930,345 shares of the company's stock, valued at $17,699,938.55. This represents a 11.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Empery Asset Management, Lp also recently made the following trade(s):

• On Thursday, August 13th, Empery Asset Management, Lp purchased 750,000 shares of Volcon stock. The shares were bought at an average price of $2.98 per share, with a total value of $2,235,000.00.
• On Wednesday, August 12th, Empery Asset Management, Lp purchased 650,000 shares of Volcon stock. The stock was bought at an average cost of $2.82 per share, with a total value of $1,833,000.00.

Volcon Stock Down 7.1%

NASDAQ:EMPD traded down $0.25 during trading hours on Wednesday, hitting $3.26. 161,206 shares of the company traded hands, compared to its average volume of 638,552. The company has a quick ratio of 0.44, a current ratio of 0.47 and a debt-to-equity ratio of 0.48. The company has a market cap of $91.64 million, a PE ratio of -3.07 and a beta of -0.34. The firm's 50-day simple moving average is $3.25 and its 200-day simple moving average is $3.98. Volcon, Inc. has a one year low of $2.48 and a one year high of $8.17.

Analyst Upgrades and Downgrades

Several research firms have commented on EMPD. Wall Street Zen raised shares of Volcon from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Weiss Ratings restated a "sell (e+)" rating on shares of Volcon in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Volcon has an average rating of "Hold".

About Volcon

Volcon, Inc NASDAQ: EMPD is a Texas‐based powersports company specializing in the design, development and distribution of electric off-road vehicles. Headquartered in Austin, Volcon aims to introduce zero-emission solutions to the traditionally gas-powered UTV and dirt bike markets. The company's modular vehicle platforms blend electric drivetrains with rugged chassis designs, targeting recreational and utility riders seeking sustainable alternatives for trail, sand and farm use.

Volcon's product lineup includes the Stag, a side-by-side utility terrain vehicle (UTV) engineered for work and play; the Grunt, an entry-level electric dirt bike offering trail-ready performance; and the Ranger, a dual-purpose e-adventure motorcycle suited for longer off-road excursions.

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