Mobileye Global (NASDAQ:MBLY) Reaches New 1-Year Low – Here’s Why

Mobileye Global Inc. (NASDAQ:MBLY) shares reached a new 52-week low during trading on Thursday . The company traded as low as $9.51 and last traded at $9.51, with a volume of 10371501 shares changing hands. The stock had previously closed at $10.08.

Wall Street Analysts Forecast Growth

MBLY has been the topic of a number of recent analyst reports. The Goldman Sachs Group reduced their target price on Mobileye Global from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 26th. HSBC cut shares of Mobileye Global from a “buy” rating to a “hold” rating and set a $11.00 price target on the stock. in a report on Friday, January 23rd. Wells Fargo & Company decreased their price objective on shares of Mobileye Global from $24.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. JPMorgan Chase & Co. raised shares of Mobileye Global from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $12.00 to $13.00 in a research note on Tuesday, January 6th. Finally, Barclays raised shares of Mobileye Global from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $17.00 to $16.00 in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $15.89.

Mobileye Global Price Performance

The firm has a market cap of $7.31 billion, a P/E ratio of -18.33 and a beta of 0.57. The firm’s 50 day moving average is $10.85 and its 200 day moving average is $12.93.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings results on Thursday, January 22nd. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The firm had revenue of $446.00 million for the quarter, compared to analysts’ expectations of $430.69 million. Mobileye Global had a positive return on equity of 0.21% and a negative net margin of 20.70%.The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS. As a group, analysts expect that Mobileye Global Inc. will post 0.01 EPS for the current year.

Hedge Funds Weigh In On Mobileye Global

Several institutional investors and hedge funds have recently modified their holdings of MBLY. Intel Corp bought a new position in Mobileye Global in the 3rd quarter worth about $706,000,000. Two Sigma Investments LP increased its stake in Mobileye Global by 131.9% during the 3rd quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company’s stock valued at $61,898,000 after purchasing an additional 2,493,181 shares in the last quarter. Vanguard Group Inc. raised its holdings in Mobileye Global by 65.5% in the third quarter. Vanguard Group Inc. now owns 3,065,586 shares of the company’s stock worth $43,286,000 after buying an additional 1,213,448 shares during the last quarter. Burkehill Global Management LP purchased a new position in Mobileye Global in the third quarter worth about $42,360,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Mobileye Global in the third quarter worth approximately $40,670,000. 13.25% of the stock is currently owned by institutional investors.

About Mobileye Global

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.