Embark Technology Inc. [EMBK] Stock trading around $0.62 per share: What’s Next?


Embark Technology Inc. [NASDAQ: EMBK] traded at a high on 06/22/22, posting a 4.81 gain after which it closed the day’ session at $0.62. The company report on June 16, 2022 that Inaugural NHTSA ADS Crash Data Release Shows Embark With Perfect Safety Record.

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Company continues to set a leading standard with zero reportable DOT and NHTSA crashes, backed by its operational safety processes and state-of-the-art technology stack.

Embark Trucks, Inc. (Nasdaq: EMBK, “Embark”), a leading developer of autonomous technology for the trucking industry, emerged with a perfect safety record in new data reported by the National Highway Traffic Safety Administration (NHTSA) yesterday. The agency released the crash data collected from Automated Driving System (ADS) and Advanced Driver Assistance System (ADAS) companies under a Standing General Order (SGO) issued in June 2021. Embark reported zero crashes since NHTSA began collecting data last year, and has never had a NHTSA-reportable crash in its history.

The results of the trading session contributed to over 5633267 shares changing hands. Over the past one week, the price volatility of Embark Technology Inc. stands at 12.81% while the volatility over the past one month is 14.95%.

The market cap for EMBK stock reached $262.78 million, with 452.62 million shares outstanding and 322.21 million shares in the current float. Compared to the average trading volume of 3.31M shares, EMBK reached a trading volume of 5633267 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Embark Technology Inc. [EMBK]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EMBK shares is $8.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EMBK stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Vertical Research have made an estimate for Embark Technology Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 26, 2022. While these analysts kept the previous recommendation, KeyBanc Capital Markets raised their target price to Sector Weight. The new note on the price target was released on January 11, 2022, representing the official price target for Embark Technology Inc. stock. Previously, the target price had yet another raise to $12, while Robert W. Baird analysts kept a Outperform rating on EMBK stock.

The Average True Range (ATR) for Embark Technology Inc. is set at 0.18 The Price to Book ratio for the last quarter was 1.19.

How has EMBK stock performed recently?

Embark Technology Inc. [EMBK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.17. With this latest performance, EMBK shares dropped by -61.95% in over the last four-week period, additionally sinking by -92.82% over the last 6 months – not to mention a drop of -93.76% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EMBK stock in for the last two-week period is set at 23.61, with the RSI for the last a single of trading hit 22.55, and the three-weeks RSI is set at 26.49 for Embark Technology Inc. [EMBK]. The present Moving Average for the last 50 days of trading for this stock 2.8314, while it was recorded at 0.6004 for the last single week of trading, and 6.2071 for the last 200 days.

Embark Technology Inc. [EMBK]: Deeper insight into the fundamentals

Return on Equity for this stock declined to -105.87, with Return on Assets sitting at -85.30.

Embark Technology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 20.40 and a Current Ratio set at 20.40.

Insider trade positions for Embark Technology Inc. [EMBK]

There are presently around $117 million, or 55.00% of EMBK stock, in the hands of institutional investors. The top three institutional holders of EMBK stocks are: DATA COLLECTIVE IV GP, LLC with ownership of 63,720,154, which is approximately New of the company’s market cap and around 11.32% of the total institutional ownership; SC US (TTGP), LTD., holding 53,144,138 shares of the stock with an approximate value of $31.25 million in EMBK stocks shares; and TIGER GLOBAL MANAGEMENT LLC, currently with $12.52 million in EMBK stock with ownership of nearly -8.586% of the company’s market capitalization.

Positions in Embark Technology Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 43 institutional holders increased their position in Embark Technology Inc. [NASDAQ:EMBK] by around 71,187,717 shares. Additionally, 21 investors decreased positions by around 5,083,592 shares, while 16 investors held positions by with 123,046,952 shares. The mentioned changes placed institutional holdings at 199,318,261 shares, according to the latest SEC report filing. EMBK stock had 26 new institutional investments in for a total of 68,054,980 shares, while 11 institutional investors sold positions of 2,956,823 shares during the same period.