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Volcon Inc. (NASDAQ:VLCN) Drops -25.23%, But Further Rally Could Be Imminent

In recent trading session, Volcon Inc. (NASDAQ:VLCN) saw 0.57 million shares changing hands at last check today with its beta currently measuring 0.45. Company’s recent per share price level of $0.48 trading at -$0.16 or -25.23% at last check today assigns it a market valuation of $15.38M. That most recent trading price of VLCN’s stock is at a discount of -441.67% from its 52-week high price of $2.60 and is indicating a premium of 12.5% from its 52-week low price of $0.42. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 94230.0 shares which gives us an average trading volume of 108.89K if we extend that period to 3-months.

For Volcon Inc. (VLCN), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 2.00. Splitting up the data highlights that, out of 1 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 1 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.27 in the current quarter.

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Volcon Inc. (NASDAQ:VLCN) trade information

Upright in the red during last session for losing -25.23%, in the last five days VLCN remained trading in the red while hitting it’s week-highest on Thursday, 09/14/23 when the stock touched $0.48 price level, adding 26.02% to its value on the day. Volcon Inc.’s shares saw a change of -52.63% in year-to-date performance and have moved -4.43% in past 5-day. Volcon Inc. (NASDAQ:VLCN) showed a performance of 7.79% in past 30-days. Number of shares sold short was 96620.0 shares which calculate 0.94 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $3.00 to the stock, which implies a rise of 84.0% to its recent value today. Analysts have been projecting $3.00 as a low price target for the stock while placing it at a high target of $3.00. It follows that stock’s current price would drop -525.0% in reaching the projected high whereas dropping to the targeted low would mean a loss of -525.0% for stock’s current value.

Volcon Inc. (VLCN) estimates and forecasts

The company is estimating its revenue growth to increase by 15.60% in the current quarter and calculating 15.60% increase in the next quarter. This year revenue growth is estimated to fall -9.80% from the last financial year’s standing.

1 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $700k for the same. And 1 analysts are in estimates of company making revenue of $1.71 million in the next quarter that will end on Dec 2023. Company posted $243k and $752k of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 188.10% while estimating it to be 127.40% for the next quarter.

VLCN Dividends

Volcon Inc. is more likely to be releasing its next quarterly report in October and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Volcon Inc. (NASDAQ:VLCN)’s Major holders

Insiders are in possession of 23.25% of company’s total shares while institution are holding 3.31 percent of that, with stock having share float percentage of 4.31%. Investors also watch the number of corporate investors in a company very closely, which is 3.31% institutions for Volcon Inc. that are currently holding shares of the company. Vanguard Group Inc is the top institutional holder at VLCN for having 0.5 million shares of worth $0.25 million. And as of Jun 29, 2023, it was holding 1.64% of the company’s outstanding shares.

The second largest institutional holder is Walleye Capital LLC, which was holding about 0.18 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 0.60% of outstanding shares, having a total worth of $92276.0.

On the other hand, Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 0.36 million shares of worth $0.18 million or 1.18% of the total outstanding shares. The later fund manager was in possession of 0.14 million shares on Jun 29, 2023, making its stake of worth around $70134.0 in the company or a holder of 0.46% of company’s stock.

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