Embark Technology Inc. (EMBK) Performance and Fundamentals Dashboard tells a completely different story

Embark Technology Inc. (NASDAQ: EMBK) stock jumped 5.87% on Monday to $4.15 against a previous-day closing price of $3.92. With 0.14 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.23 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $4.2150 whereas the lowest price it dropped to was $3.6700. The 52-week range on EMBK shows that it touched its highest point at $134.40 and its lowest point at $2.02 during that stretch. It currently has a 1-year price target of $35.20.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of EMBK was down-trending over the past week, with a drop of -0.72%, but this was up by 76.60% over a month. Three-month performance dropped to -37.41% while six-month performance fell -46.03%. The stock lost -94.64% in the past year, while it has gained 26.14% so far this year. A look at the trailing 12-month EPS for EMBK yields -6.37 with Next year EPS estimates of -6.67. For the next quarter, that number is -1.75. This implies an EPS growth rate of -476.80% for this year and -23.50% for next year.

Float and Shares Shorts:

At present, 23.14 million EMBK shares are outstanding with a float of 17.47 million shares on hand for trading. On Dec 29, 2022, short shares totaled 1.0 million, which was 4.28% higher than short shares on Nov 29, 2022. In addition to Mr. Alex Rodrigues as the firm’s CEO, Founder & Director, Mr. Brandon Moak serves as its CTO, Founder & Director.

Institutional Ownership:

Through their ownership of 63.75% of EMBK’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 87.70% of EMBK, in contrast to 6.30% held by mutual funds. Shares owned by individuals account for 21.60%. As the largest shareholder in EMBK with 4.46% of the stake, The Vanguard Group, Inc. holds 849,628 shares worth 849,628. A second-largest stockholder of EMBK, Vestcor, Inc., holds 771,245 shares, controlling over 4.05% of the firm’s shares. Fiduciary Investment Management I is the third largest shareholder in EMBK, holding 554,179 shares or 2.91% stake. With a 2.53% stake in EMBK, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 482,700 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.84% of EMBK stock, is the second-largest Mutual Fund holder. It holds 160,415 shares valued at 0.53 million. Vanguard Information Technology I holds 0.83% of the stake in EMBK, owning 157,630 shares worth 0.52 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Sep 29, 2022, EMBK reported revenue of $0.00 and operating income of -$37.81M. The EBITDA in the recently reported quarter was -$37.30M and diluted EPS was -$0.60.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EMBK since 4 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With EMBK analysts setting a high price target of $15.00 and a low target of $14.00, the average target price over the next 12 months is $14.50. Based on these targets, EMBK could surge 261.45% to reach the target high and rise by 237.35% to reach the target low. Reaching the average price target will result in a growth of 249.4% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. EMBK will report FY 2022 earnings on 03/14/2024. Analysts have provided yearly estimates in a range of -$4.60 being high and -$7.93 being low. For EMBK, this leads to a yearly average estimate of -$6.45. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Embark Technology Inc. surprised analysts by -$1.47 when it reported -$1.53 EPS against a consensus estimate of -$0.06. The surprise factor in the prior quarter was $0.06. Based on analyst estimates, the high estimate for the next quarter is -$0.06 and the low estimate is -$0.06. The average estimate for the next quarter is thus -$0.06.

Summary of Insider Activity:

Insiders traded EMBK stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 30 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 2,274,357 while 0 shares were sold.

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