Volcon, Inc. (NASDAQ:VLCN) Sees Large Increase in Short Interest

Volcon, Inc. (NASDAQ:VLCN) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 273,600 shares, an increase of 31.9% from the September 15th total of 207,400 shares. Based on an average daily volume of 950,800 shares, the short-interest ratio is currently 0.3 days. Currently, 5.9% of the shares of the stock are sold short.

Insider Buying and Selling

In other news, major shareholder Sabby Management, Llc acquired 21,998 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were bought at an average cost of $1.50 per share, for a total transaction of $32,997.00. Following the acquisition, the insider now owns 761,505 shares in the company, valued at approximately $1,142,257.50. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased a total of 270,528 shares of company stock worth $461,110 in the last 90 days. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Volcon stock. Virtu Financial LLC bought a new position in shares of Volcon, Inc. (NASDAQ:VLCN) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 46,647 shares of the company’s stock, valued at approximately $32,000. Virtu Financial LLC owned approximately 0.19% of Volcon at the end of the most recent quarter.

Volcon Stock Performance

Shares of NASDAQ:VLCN traded down $0.02 during midday trading on Friday, hitting $0.80. The company’s stock had a trading volume of 206,335 shares, compared to its average volume of 318,482. The business’s 50 day simple moving average is $1.33 and its 200 day simple moving average is $12.22. Volcon has a 12-month low of $0.73 and a 12-month high of $10,890.00.

Volcon (NASDAQ:VLCN) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($1.51) EPS 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.