Volcon Inc (NASDAQ:VLCN) shares, rose in value, with the stock price down by -20.04% to the previous day’s close as strong demand from buyers drove the stock to $0.35.
Actively observing the price movement in the last trading, the stock closed the session at $0.44. Referring to stock’s 52-week performance, its high was $378.00, and the low was $0.42. On the whole, VLCN has fluctuated by -66.98% over the past month.
As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$60.75, which is expected to increase to $0 for fiscal year -$373.5 and then to about -$238.5 by fiscal year 2024. Data indicates that the EPS growth is expected to be -14.50% in 2024, while the next year’s EPS growth is forecast to be 36.10%.
Analysts have estimated the company’s revenue for the quarter at $1.08 million, with a low estimate of $1.71 million and a high estimate of $1.71 million. According to the average forecast, sales growth in current quarter could jump up 44.10%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $3.26 million, representing a decrease of -28.30% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that VLCN’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of VLCN currently trading nearly -52.87% and -82.49% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 24.52, while the 7-day volatility ratio is showing 25.13% which for the 30-day chart, stands at 18.18%. Furthermore, Volcon Inc (VLCN)’s beta value is -0.93, and its average true range (ATR) is 0.23.
A comparison of Volcon Inc (VLCN) with its peers suggests the former has fared considerably weaker in the market. VLCN showed an intraday change of -20.04% in last session, and over the past year, it shrunk by -99.90%%.
Data on historical trading for Volcon Inc (NASDAQ:VLCN) indicates that the trading volumes over the past 10 days have averaged 1.93 million and over the past 3 months, they’ve averaged 4.05 million. According to company’s latest data on outstanding shares, there are 18.75 million shares outstanding.
Nearly 11.17% of Volcon Inc’s shares belong to company insiders and institutional investors own 0.19% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.2 million shares as on Mar 15, 2024, resulting in a short ratio of 0.02. According to the data, the short interest in Volcon Inc (VLCN) stood at 1.30% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 0.16 million. The stock has fallen by -92.15% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the VLCN stock heading into the next quarter.
