Embark Technology (NASDAQ:EMBK) Releases Earnings Results, Misses Expectations By $0.20 EPS

Embark Technology (NASDAQ:EMBK - Get Rating) issued its quarterly earnings data on Thursday. The company reported ($0.24) earnings per share for the quarter, missing the Zacks' consensus estimate of ($0.04) by ($0.20), MarketWatch Earnings reports.

Shares of NASDAQ:EMBK traded up $0.56 during midday trading on Friday, hitting $5.34. The stock had a trading volume of 2,841,916 shares, compared to its average volume of 758,471. Embark Technology has a 12 month low of $3.01 and a 12 month high of $10.49. The business has a 50-day moving average of $4.37.

Several institutional investors and hedge funds have recently bought and sold shares of EMBK. Charles Schwab Investment Management Inc. bought a new stake in shares of Embark Technology during the fourth quarter worth about $8,396,000. Geode Capital Management LLC acquired a new position in shares of Embark Technology during the fourth quarter worth approximately $16,265,000. Goldman Sachs Group Inc. bought a new position in Embark Technology in the 4th quarter valued at $139,000. State Street Corp purchased a new stake in Embark Technology during the 4th quarter worth about $5,427,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Embark Technology during the 4th quarter worth about $1,054,000.

Several equities research analysts have issued reports on the stock. KeyCorp assumed coverage on shares of Embark Technology in a report on Tuesday, January 11th. They issued a "sector weight" rating on the stock. They noted that the move was a valuation call. Robert W. Baird lowered their target price on shares of Embark Technology from $12.00 to $9.00 in a report on Friday. Finally, Citigroup assumed coverage on shares of Embark Technology in a report on Tuesday, December 7th. They set a "buy" rating and a $11.00 price objective on the stock.

Embark Technology Company Profile (Get Rating)

Embark Trucks Inc is an autonomous vehicle company. It involved in building the software powering autonomous trucks. Embark Trucks Inc, formerly known as Northern Genesis Acquisition Corp. II, is based in SAN FRANCISCO.

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