Volcon (NASDAQ:EMPD) Research Coverage Started at Lake Street Capital

Lake Street Capital began coverage on shares of Volcon (NASDAQ:EMPD) in a research report report published on Tuesday, Marketbeat reports. The brokerage issued a buy rating and a $6.00 price objective on the stock.

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

Volcon Trading Up 1.7%

Shares of EMPD opened at $3.06 on Tuesday. The stock’s 50-day moving average price is $3.00 and its 200 day moving average price is $3.84. 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 firm has a market capitalization of $86.17 million, a price-to-earnings ratio of -2.91 and a beta of -0.35. Volcon has a 12-month low of $2.48 and a 12-month high of $8.11.

Insiders Place Their Bets

In related news, major shareholder Empery Asset Management, Lp purchased 500,000 shares of the stock in a transaction on Tuesday, September 1st. The shares were purchased at an average cost of $3.59 per share, for a total transaction of $1,795,000.00. Following the completion of the transaction, the insider directly owned 4,930,345 shares of the company’s stock, valued at approximately $17,699,938.55. The trade was a 11.29% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired 1,900,000 shares of company stock valued at $5,863,000 in the last quarter. Corporate insiders own 0.13% of the company’s stock.

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.