Embark Technology (NASDAQ:EMBK) PT Lowered to $6.00

Embark Technology (NASDAQ:EMBKGet Rating) had its price objective dropped by stock analysts at Citigroup from $11.00 to $6.00 in a report issued on Wednesday, The Fly reports. Citigroup’s target price points to a potential upside of 319.58% from the company’s previous close.

Several other research firms have also commented on EMBK. Robert W. Baird cut their price target on Embark Technology from $12.00 to $9.00 in a research report on Friday, March 18th. KeyCorp assumed coverage on Embark Technology in a research report on Tuesday, January 11th. They set a “sector weight” rating on the stock. They noted that the move was a valuation call. Finally, Vertical Research assumed coverage on Embark Technology in a research report on Tuesday, April 26th. They set a “buy” rating and a $20.00 price target on the stock.

EMBK stock opened at $1.43 on Wednesday. Embark Technology has a fifty-two week low of $1.35 and a fifty-two week high of $10.49. The stock’s 50 day simple moving average is $5.12.

Embark Technology (NASDAQ:EMBKGet Rating) last released its quarterly earnings results on Thursday, March 17th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.17). As a group, analysts forecast that Embark Technology will post -0.5 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd increased its holdings in shares of Embark Technology by 9.9% in the first quarter. Qube Research & Technologies Ltd now owns 240,416 shares of the company’s stock valued at $1,416,000 after purchasing an additional 21,577 shares during the period. Cannon Global Investment Management LLC acquired a new position in shares of Embark Technology in the first quarter valued at approximately $491,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Embark Technology in the first quarter valued at approximately $59,000. Sciencast Management LP acquired a new position in shares of Embark Technology in the first quarter valued at approximately $283,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Embark Technology in the first quarter valued at approximately $77,000. 53.69% of the stock is currently owned by institutional investors and hedge funds.

About Embark Technology (Get Rating)

Embark Technology, Inc develops self-driving software solutions for the trucking industry in the United States. Its solutions include Embark Driver, autonomous trucking software; Embark Universal Interface, an interoperable self-driving stack that works across truck OEM platforms; and Embark Guardian, a cloud-based autonomous fleet management solution that gives carriers control over air updates, remote vehicle monitoring, remote vehicle assist, dispatching and access to real time data such as weather and construction.

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