Embark Technology, Inc. (NASDAQ: EMBK) Leading Shareholder Collective Iv LP Data Acquires 122,000 Shares
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
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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
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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.
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