Volcon (NASDAQ:EMPD) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Volcon (NASDAQ:EMPD) from a hold rating to a sell rating in a research note published on Sunday,Wall Street Zen reports.

Other analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Volcon in a research note on Thursday, October 15th. Lake Street Capital began coverage on Volcon in a research report on Tuesday, September 29th. They set a “buy” rating and a $6.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Volcon has an average rating of “Moderate Buy” and an average price target of $6.00.

Volcon Stock Down 1.0%

EMPD opened at $2.01 on Friday. Volcon has a fifty-two week low of $1.91 and a fifty-two week high of $6.60. The company has a debt-to-equity ratio of 0.25, a current ratio of 8.51 and a quick ratio of 0.44. The company’s 50 day moving average price is $2.91 and its two-hundred day moving average price is $3.74.

Volcon (NASDAQ:EMPD) last announced its quarterly earnings results on Friday, November 6th. The company reported $0.80 earnings per share (EPS) for the quarter. The firm had revenue of $0.10 million during the quarter. Volcon had a negative net margin of 41,406.24% and a negative return on equity of 78.06%.

Insider Activity at Volcon

In other news, major shareholder Empery Asset Management, Lp bought 500,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was acquired at an average price of $3.59 per share, with a total value of $1,795,000.00. Following the transaction, the insider owned 4,930,345 shares of the company’s stock, valued at $17,699,938.55. This trade represents a 11.29% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Tice Brown sold 11,179 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider 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 SEC filing for this sale provides additional information. Insiders sold 16,143 shares of company stock worth $44,259 over the last quarter. 0.13% of the stock is currently owned by company insiders.

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.