Mobileye Global Inc. (NASDAQ:MBLY – Get Free Report)’s share price was down 6.4% on Friday. The stock traded as low as $6.60 and last traded at $6.5050. 2,007,168 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 6,878,156 shares. The stock had previously closed at $6.95.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the company. Canaccord Genuity Group dropped their price objective on Mobileye Global from $17.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, July 24th. The Goldman Sachs Group decreased their target price on Mobileye Global from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 6th. Mizuho lowered their price target on Mobileye Global from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, July 24th. Tigress Financial dropped their price target on Mobileye Global from $25.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Finally, Piper Sandler raised Mobileye Global from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $10.00 to $12.00 in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $11.08.
Get Our Latest Analysis on MBLY
Mobileye Global Stock Down 5.4%
The company has a fifty day moving average price of $7.96 and a 200 day moving average price of $8.60. The stock has a market cap of $5.52 billion, a PE ratio of -1.32, a P/E/G ratio of 2.27 and a beta of 1.25.
Mobileye Global (NASDAQ:MBLY – Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.13. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%. The company had revenue of $508.00 million during the quarter, compared to analysts’ expectations of $480.51 million. During the same period in the prior year, the business posted ($0.08) EPS. Mobileye Global’s quarterly revenue was up .4% compared to the same quarter last year. As a group, research analysts predict that Mobileye Global Inc. will post 0.11 earnings per share for the current year.
Insider Activity
In related news, Director Frank D. Yeary purchased 12,360 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The stock was bought at an average cost of $7.98 per share, with a total value of $98,632.80. Following the completion of the purchase, the director directly owned 12,360 shares in the company, valued at approximately $98,632.80. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Safroadu Yeboah-Amankwah bought 11,841 shares of the stock in a transaction dated Thursday, August 6th. The stock was purchased at an average price of $8.46 per share, with a total value of $100,174.86. Following the purchase, the director owned 84,336 shares in the company, valued at $713,482.56. This trade represents a 16.33% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 10.00% of the company’s stock.
Institutional Trading of Mobileye Global
A number of hedge funds have recently modified their holdings of the business. Fifth Third Wealth Advisors LLC purchased a new position in shares of Mobileye Global in the 3rd quarter worth $80,000. Robeco Institutional Asset Management B.V. purchased a new position in Mobileye Global in the 3rd quarter worth approximately $431,000. Prime Capital Investment Advisors LLC bought a new stake in shares of Mobileye Global during the third quarter valued at approximately $122,000. Counterpoint Mutual Funds LLC purchased a new position in Mobileye Global during the 3rd quarter valued at approximately $9,074,000. Finally, Vontobel Holding Ltd. raised its stake in Mobileye Global by 51.2% during the third quarter. Vontobel Holding Ltd. now owns 38,030 shares of the company’s stock valued at $281,000 after purchasing an additional 12,870 shares in the last quarter. Institutional investors own 13.25% of the company’s stock.
Mobileye Global Company Profile
Mobileye Global Inc (NASDAQ:MBLY) develops advanced driver-assistance systems and autonomous driving technologies for vehicle manufacturers worldwide. Founded in 1999 and headquartered in Jerusalem, Israel, the company provides computer-vision and artificial-intelligence solutions designed to improve vehicle safety and support automated driving.
Its product portfolio includes EyeQ system-on-chips, camera-based driver-assistance features, and software for functions such as automatic emergency braking, lane-keeping assistance, adaptive cruise control, and traffic-sign recognition.
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