Mobileye Global (NASDAQ:MBLY) Reaches New 1-Year Low After Analyst Downgrade

Mobileye Global Inc. (NASDAQ:MBLY)’s stock price hit a new 52-week low during trading on Tuesday after Barclays lowered their price target on the stock from $16.00 to $14.00. Barclays currently has an overweight rating on the stock. Mobileye Global traded as low as $6.47 and last traded at $6.56, with a volume of 5964766 shares changing hands. The stock had previously closed at $6.73.

A number of other equities research analysts have also issued reports on the company. Morgan Stanley cut their target price on Mobileye Global from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. Needham & Company LLC decreased their price target on Mobileye Global from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, January 23rd. Arete Research cut Mobileye Global from a “buy” rating to a “neutral” rating and set a $15.70 price target on the stock. in a research note on Tuesday, January 27th. Canaccord Genuity Group cut their price objective on Mobileye Global from $30.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, January 23rd. Finally, Wolfe Research lowered shares of Mobileye Global from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 12th. 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 one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Mobileye Global has a consensus rating of “Hold” and an average price target of $15.79.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. NewEdge Advisors LLC grew its stake in Mobileye Global by 10.7% during the 1st quarter. NewEdge Advisors LLC now owns 31,228 shares of the company’s stock valued at $450,000 after acquiring an additional 3,019 shares in the last quarter. Rhumbline Advisers purchased a new stake in shares of Mobileye Global in the first quarter worth approximately $27,000. Creative Planning boosted its holdings in shares of Mobileye Global by 10.2% during the second quarter. Creative Planning now owns 18,316 shares of the company’s stock worth $329,000 after purchasing an additional 1,693 shares during the period. Cetera Investment Advisers purchased a new position in Mobileye Global during the second quarter valued at approximately $351,000. Finally, Swiss National Bank acquired a new position in Mobileye Global in the 2nd quarter valued at approximately $3,441,000. 13.25% of the stock is owned by institutional investors and hedge funds.

Mobileye Global Stock Performance

The stock has a market cap of $5.60 billion, a price-to-earnings ratio of -14.02 and a beta of 0.59. The company’s 50 day simple moving average is $8.53 and its two-hundred day simple moving average is $11.08.

Mobileye Global (NASDAQ:MBLY) last issued its earnings results on Thursday, January 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. Mobileye Global had a negative net margin of 20.70% and a positive return on equity of 0.21%. The company had revenue of $446.00 million during the quarter, compared to analyst estimates of $430.69 million. During the same quarter last year, the business posted $0.13 EPS. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, equities research analysts predict that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal year.

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.