Short Interest in Volcon, Inc. (NASDAQ:VLCN) Grows By 82.5%

Volcon, Inc. (NASDAQ:VLCN) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 291,800 shares, an increase of 82.5% from the August 15th total of 159,900 shares. Based on an average daily volume of 1,870,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 6.3% of the shares of the stock are sold short.

Insider Activity

In other news, major shareholder Sabby Management, Llc purchased 40,349 shares of the stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of $1.94 per share, for a total transaction of $78,277.06. Following the transaction, the insider now owns 517,892 shares in the company, valued at $1,004,710.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have bought 270,636 shares of company stock worth $461,599. 0.13% of the stock is owned by company insiders.

Institutional Investors Weigh In On Volcon

A hedge fund recently bought a new stake in Volcon stock. Virtu Financial LLC acquired a new position in shares of Volcon, Inc. (NASDAQ:VLCN) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 46,647 shares of the company’s stock, valued at approximately $32,000. Virtu Financial LLC owned approximately 0.19% of Volcon as of its most recent SEC filing.

Volcon Stock Performance

Shares of VLCN traded up $0.01 during trading hours on Friday, hitting $1.27. 160,256 shares of the company were exchanged, compared to its average volume of 454,287. The firm has a fifty day simple moving average of $2.11 and a 200-day simple moving average of $24.42. Volcon has a one year low of $1.24 and a one year high of $14,598.00.

Volcon (NASDAQ:VLCN) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($1.51) earnings per share for the quarter. The firm had revenue of $0.94 million during the quarter.

About Volcon

Volcon, Inc develops, manufactures, and sells electric off road powersport vehicles in the United States. It provides electric two and four-wheel motorcycles, and utility terrain vehicles through its dealers. The company also offers a line of upgrades and accessories. Its products are designed for family off-road adventures, and work on the farm and fun transport around private land applications.