Volcon (NASDAQ:EMPD) Releases Earnings Results

Volcon (NASDAQ:EMPD) announced its earnings results on Friday. The company reported $0.80 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $0.10 million during the quarter. Volcon had a negative net margin of 43,296.70% and a negative return on equity of 58.08%.

Volcon Stock Performance

EMPD stock opened at $2.00 on Friday. The firm has a 50 day moving average of $2.96 and a two-hundred day moving average of $3.77. Volcon has a 12 month low of $1.95 and a 12 month high of $6.61. The company has a market capitalization of $56.32 million, a price-to-earnings ratio of -1.90 and a beta of -0.36. The company has a quick ratio of 0.44, a current ratio of 0.47 and a debt-to-equity ratio of 0.48.

Insiders Place Their Bets

In other Volcon news, major shareholder Empery Asset Management, Lp acquired 750,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average cost of $2.98 per share, for a total transaction of $2,235,000.00. Following the completion of the acquisition, the insider owned 4,430,345 shares of the company’s stock, valued at approximately $13,202,428.10. This trade represents a 20.38% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Tice Brown sold 11,179 shares of the stock in a transaction 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 directly owned 2,162,315 shares in the company, valued at $6,032,858.85. The trade was a 0.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have bought 1,900,000 shares of company stock worth $5,863,000 and have sold 16,143 shares worth $44,259. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on EMPD shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Volcon in a report on Thursday, October 15th. Lake Street Capital started coverage on shares of Volcon in a report on Tuesday, September 29th. They set a “buy” rating and a $6.00 price target on the stock. Finally, Wall Street Zen cut shares of Volcon from a “hold” rating to a “sell” rating in a report on Sunday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

About Volcon

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.