Shares of Mobileye Global Inc. (NASDAQ:MBLY – Get Free Report) were up 6% during mid-day trading on Tuesday . The company traded as high as $10.19 and last traded at $10.1060. Approximately 1,483,925 shares traded hands during trading, a decline of 80% from the average daily volume of 7,429,185 shares. The stock had previously closed at $9.53.
Wall Street Analysts Forecast Growth
MBLY has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mobileye Global in a report on Monday, April 27th. Berenberg Bank downgraded Mobileye Global from a “buy” rating to a “hold” rating and set a $10.80 price objective on the stock. in a report on Thursday, May 21st. BNP Paribas Exane dropped their price objective on shares of Mobileye Global from $11.50 to $8.50 and set a “neutral” rating for the company in a report on Wednesday, April 22nd. Canaccord Genuity Group dropped their price objective on shares of Mobileye Global from $24.00 to $17.00 and set a “buy” rating for the company in a report on Friday, April 24th. Finally, Wall Street Zen raised shares of Mobileye Global from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $13.77.
Read Our Latest Research Report on MBLY
Mobileye Global Stock Up 2.7%
Mobileye Global (NASDAQ:MBLY – Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The business had revenue of $558.00 million during the quarter, compared to analyst estimates of $519.34 million. Mobileye Global had a negative net margin of 203.97% and a positive return on equity of 0.33%. Mobileye Global’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 earnings per share. Research analysts forecast that Mobileye Global Inc. will post -0.07 EPS for the current year.
Mobileye Global announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 23rd that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Institutional Trading of Mobileye Global
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE grew its position in shares of Mobileye Global by 5.8% during the 1st quarter. Bank of America Corp DE now owns 2,036,548 shares of the company’s stock worth $13,991,000 after buying an additional 111,215 shares during the period. Amundi grew its position in shares of Mobileye Global by 89.7% during the 1st quarter. Amundi now owns 35,225 shares of the company’s stock worth $242,000 after buying an additional 16,658 shares during the period. California State Teachers Retirement System lifted its holdings in Mobileye Global by 39.6% in the first quarter. California State Teachers Retirement System now owns 194,805 shares of the company’s stock valued at $1,338,000 after buying an additional 55,249 shares during the period. Royal Bank of Canada lifted its holdings in Mobileye Global by 129.6% in the first quarter. Royal Bank of Canada now owns 224,315 shares of the company’s stock valued at $1,541,000 after buying an additional 126,634 shares during the period. Finally, SummitTX Capital L.P. acquired a new position in Mobileye Global in the first quarter valued at approximately $381,000. Institutional investors and hedge funds own 13.25% of the company’s stock.
Mobileye Global Company Profile
Mobileye Global Inc (NASDAQ: MBLY) is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye’s core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.
Founded in 1999 by Prof.
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