Mobileye Global (NASDAQ:MBLY) Stock Price Down 6.7% – Here’s Why

by · The Cerbat Gem

Mobileye Global Inc. (NASDAQ:MBLY – Get Free Report)’s share price was down 6.7% on Wednesday . The company traded as low as $12.35 and last traded at $12.38. Approximately 4,435,248 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 4,829,680 shares. The stock had previously closed at $13.27.

Analysts Set New Price Targets

Several research analysts recently issued reports on MBLY shares. HSBC started coverage on Mobileye Global in a research report on Monday, July 15th. They set a “buy” rating and a $33.00 target price on the stock. Fox Advisors downgraded Mobileye Global from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $15.00 price target on shares of Mobileye Global in a research report on Tuesday, September 10th. Hsbc Global Res raised Mobileye Global to a “strong-buy” rating in a report on Monday, July 15th. Finally, BNP Paribas lowered Mobileye Global from a “neutral” rating to an “underperform” rating and set a $12.00 price target on the stock. in a research note on Wednesday, October 2nd. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $25.55.

Read Our Latest Stock Report on MBLY

Mobileye Global Stock Performance

The stock has a market cap of $10.15 billion, a PE ratio of -63.17 and a beta of 0.08. The company’s 50-day moving average price is $12.83 and its 200 day moving average price is $21.04.

Mobileye Global (NASDAQ:MBLY – Get Free Report) last released its earnings results on Thursday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Mobileye Global had a positive return on equity of 1.32% and a negative net margin of 12.14%. The firm had revenue of $439.00 million during the quarter, compared to analyst estimates of $424.34 million. During the same period last year, the business posted $0.11 earnings per share. Mobileye Global’s revenue was down 3.3% compared to the same quarter last year. As a group, equities research analysts predict that Mobileye Global Inc. will post -0.06 earnings per share for the current fiscal year.

Insider Activity at Mobileye Global

In related news, CEO Amnon Shashua acquired 631,963 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $16.51 per share, for a total transaction of $10,433,709.13. Following the completion of the purchase, the chief executive officer now directly owns 4,080,097 shares of the company’s stock, valued at approximately $67,362,401.47. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Patrick P. Gelsinger purchased 6,400 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $15.48 per share, with a total value of $99,072.00. Following the completion of the acquisition, the director now directly owns 139,106 shares in the company, valued at $2,153,360.88. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Amnon Shashua acquired 631,963 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $16.51 per share, for a total transaction of $10,433,709.13. Following the completion of the acquisition, the chief executive officer now owns 4,080,097 shares in the company, valued at approximately $67,362,401.47. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mobileye Global

A number of large investors have recently bought and sold shares of the stock. Cranbrook Wealth Management LLC acquired a new position in shares of Mobileye Global in the 2nd quarter valued at about $84,000. Natixis Investment Managers International acquired a new position in Mobileye Global during the first quarter valued at approximately $99,000. PNC Financial Services Group Inc. grew its stake in Mobileye Global by 64.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,736 shares of the company’s stock worth $162,000 after buying an additional 1,470 shares during the period. EverSource Wealth Advisors LLC raised its position in Mobileye Global by 1,019.9% in the second quarter. EverSource Wealth Advisors LLC now owns 3,819 shares of the company’s stock valued at $107,000 after purchasing an additional 3,478 shares during the period. Finally, Lipe & Dalton raised its stake in Mobileye Global by 53.6% during the first quarter. Lipe & Dalton now owns 4,300 shares of the company’s stock valued at $138,000 after buying an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 13.25% of the company’s stock.

About Mobileye Global

(Get Free Report)

Mobileye Global Inc develops and deploys advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions worldwide. The company operates through Mobileye and Other segments. It offers Driver Assist comprising ADAS and autonomous vehicle solutions that covers safety features, such as real-time detection of road users, geometry, semantics, and markings to provide safety alerts and emergency interventions; Cloud-Enhanced Driver Assist, a solution for drivers with interpretations of a scene in real-time; Mobileye SuperVision Lite, a navigation and assisted driving solution; and Mobileye SuperVision, an operational point-to-point assisted driving navigation solution on various road types and includes cloud-based enhancements, such as road experience management.

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