What The Financials Tell Us About Embark Technology Inc. (EMBK)


Embark Technology Inc. (NASDAQ:EMBK) traded with an addition of $0.53 to close at $3.13 on Friday, an upside of 20.38 percent. An average of 294,149 shares of common stock have been traded in the last five days. There was a gain of $0.82 in the past week, and it reached a new high 2 times over the past 12 months. The last 20 days have seen an average of 226,332 shares traded, while the 50-day average volume stands at 195,287.

EMBK stock has decreased by -36.43% in the last month. The company shares reached their 1-month lowest point of $2.02 on 12/28/22. With the stock rallying to its 52-week high on 01/03/22, shares of the company touched a low of $2.02 and a high of $180.00 in 52 weeks. It has reached a new high 1 time so far this year and lost -98.50% or -$170.52 in price. In spite of this, the price is down -98.26% from the 52-week high.

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Financial Health

The quick ratio of Embark Technology Inc. for the three months ended September 29 was 12.80, and the current ratio was 12.80, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.01 and a total debt to equity ratio of 0.01 for the quarter ending September 29. Its gross profit as reported stood at $8.16 million compared to revenue of $103.66 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Embark Technology Inc.’s return on assets was -53.90%.

Earnings Surprise

For the three-month period that ended September 29, Embark Technology Inc. had $1.42 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$35.41 million in the quarter, while revenues of -$14.32 million were grew 132.62%. The analyst consensus anticipated Embark Technology Inc.’s latest quarter earnings to come in at -$1.58 per share, but it turned out to be -$1.53, a 3.20% surprise. For the quarter, EBITDA amounted to -$36.3 million. Shareholders own equity worth $23.42 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Embark Technology Inc. (EMBK) price momentum. RSI 9-day as of the close on 29 December was 57.77%, suggesting the stock is Neutral, with historical volatility in this time frame at 165.74%.

As of today, EMBK’s price is $2.47 +36.33% or $0.82 from its 5-day moving average. EMBK is currently trading -30.92% lower than its 20-day SMA and -69.37% lower than its 100-day SMA. However, the stock’s current price level is -53.25% below the SMA50 and -96.63% below the SMA200.

The stochastic %K and %D were 45.99% and 27.38%, respectively, and the average true range (ATR) was 0.36. With the 14-day stochastic at 65.09% and the average true range at 0.37, the RSI (14) stands at 46.33%. The stock has reached 0.30 on the 9-day MACD Oscillator while the 14-day reading was at 0.14.

Analyst Ratings

Vertical Research launched coverage on Embark Technology Inc. (NASDAQ: EMBK) in its analyst report released on April 26, 2022. The firm assigned the stock a Buy rating. The consensus rating for Embark Technology Inc. (EMBK) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell EMBK, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 2 others rate it as a “buy”.

What is EMBK’s price target for the next 12 months?

Analysts predict a range of price targets between $14.00 and $15.00, with a median target of $14.50. Taking a look at these predictions, the average price target given by analysts for Embark Technology Inc. (EMBK) stock is $14.50.


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