Collective Iv LP Data principal shareholder Embark Technology, Inc. (NASDAQ:EMBK – Get Rating) purchased 122,000 Embark Technology shares in a trade on Tuesday, August 16. The stock was purchased at an average price of $0.84 per share, for a total transaction of $102,480.00. Following the completion of the acquisition, the insider now owns 3,192,107 shares of the company, valued at approximately $2,681,369.88. The transaction was disclosed in a legal filing with the SEC, accessible via this link. Large shareholders who own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Board tech stock down 13.4%

EMBK shares were down $1.77 during Thursday trading hours, hitting $11.42. 847,966 shares were traded, against an average volume of 240,270. Embark Technology, Inc. has a 12-month low of $7.01 and a 12-month high of $209.80. The company has a debt ratio of 0.01, a current ratio of 16.63 and a quick ratio of 20.43. The company’s 50-day moving average price is $15.90 and its 200-day moving average price is $59.34.

Analysts set new price targets

A number of analysts have released reports on the stock. Vertical Research took over coverage of Embark Technology shares in a report on Tuesday, April 26. They issued a “buy” rating and a price target of $400.00 on the stock. Citigroup lowered its price target on Embark Technology shares from $220.00 to $120.00 in a Wednesday, May 11 research note.

Hedge funds weigh on Embark Technology

A number of large investors have recently changed their positions in EMBK. Sage Rhino Capital LLC acquired a new stake in Embark Technology in Q2 worth approximately $25,000. Tuttle Capital Management LLC increased its position in Embark Technology by 244.0% in the second quarter. Tuttle Capital Management LLC now owns 50,963 shares of the company valued at $26,000 after purchasing an additional 36,148 shares during the period. Resolute Advisors LLC acquired a new stake in Embark Technology in Q2, valued at approximately $51,000. Credit Suisse AG bought a new stake in Embark Technology in Q2, valued at around $54,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Embark Technology in Q2, valued at approximately $57,000. 53.69% of the shares are held by hedge funds and other institutional investors.

Embark Technology Company Profile

(Get a rating)

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

Further reading

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