Volcon (NASDAQ:EMPD) Now Covered by Lake Street Capital

Research analysts at Lake Street Capital initiated coverage on shares of Volcon (NASDAQ:EMPD) in a research note issued on Tuesday, Briefing.com reports. The firm set a “buy” rating and a $6.00 price target on the stock. Lake Street Capital’s price target points to a potential upside of 101.34% from the company’s current price.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Volcon in a research note on Friday, July 17th. One research 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 assigned a Sell rating to the company. Based on data from MarketBeat, Volcon has an average rating of “Moderate Buy” and a consensus target price of $6.00.

Volcon Trading Up 3.1%

EMPD opened at $2.98 on Tuesday. The business has a fifty day moving average price of $3.02 and a 200 day moving average price of $3.87. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.47 and a quick ratio of 0.44. Volcon has a 12 month low of $2.48 and a 12 month high of $8.11. The stock has a market capitalization of $83.92 million, a price-to-earnings ratio of -2.84 and a beta of -0.34.

Insider Buying and Selling at Volcon

In other news, major shareholder Empery Asset Management, Lp acquired 500,000 shares of Volcon stock in a transaction dated Tuesday, September 1st. The shares were acquired at an average cost of $3.59 per share, for a total transaction of $1,795,000.00. Following the acquisition, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have acquired 1,900,000 shares of company stock valued at $5,863,000. 0.13% of the stock is currently owned by company insiders.

About Volcon

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.