Mobileye Global (NASDAQ:MBLY) Sees Large Volume Increase – Still a Buy?

Mobileye Global Inc. (NASDAQ:MBLY) shares saw an uptick in trading volume on Friday. Approximately 7,419,245 shares traded hands during trading, an increase of 6% from the average daily volume of 7,009,722 shares. The stock last traded at $5.3050 and had previously closed at $5.13.

Analyst Ratings Changes

A number of research firms have commented on MBLY. TD Cowen downgraded shares of Mobileye Global from a “buy” rating to a “hold” rating and cut their price objective for the company from $8.00 to $7.00 in a report on Friday, October 30th. Mizuho lowered their target price on Mobileye Global from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, July 24th. The Goldman Sachs Group dropped their price target on Mobileye Global from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Friday, October 30th. Morgan Stanley dropped their price target on Mobileye Global from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, October 15th. Finally, Needham & Company LLC cut their price target on Mobileye Global from $13.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.43.

Mobileye Global Trading Up 5.2%

The firm has a fifty day moving average price of $7.41 and a 200 day moving average price of $8.44. The firm has a market cap of $4.53 billion, a PE ratio of -1.09, a price-to-earnings-growth ratio of 1.75 and a beta of 1.30.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Mobileye Global had a negative net margin of 201.25% and a positive return on equity of 0.66%. The firm had revenue of $492.00 million during the quarter, compared to analyst estimates of $476.78 million. During the same quarter in the prior year, the firm posted $0.09 earnings per share. Mobileye Global’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, equities analysts predict that Mobileye Global Inc. will post 0.11 earnings per share for the current year.

Hedge Funds Weigh In On Mobileye Global

Institutional investors and hedge funds have recently bought and sold shares of the company. R Squared Ltd purchased a new stake in shares of Mobileye Global in the 3rd quarter valued at approximately $99,000. M&G PLC increased its holdings in shares of Mobileye Global by 1.2% during the 3rd quarter. M&G PLC now owns 1,813,282 shares of the company’s stock worth $12,693,000 after buying an additional 21,799 shares during the last quarter. Brighton Jones LLC purchased a new stake in shares of Mobileye Global during the 3rd quarter valued at approximately $107,000. Parallel Advisors LLC raised its position in shares of Mobileye Global by 2,098.0% during the 3rd quarter. Parallel Advisors LLC now owns 4,396 shares of the company’s stock valued at $32,000 after buying an additional 4,196 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Mobileye Global during the 3rd quarter valued at approximately $396,000. 13.25% of the stock is currently owned by institutional investors and hedge funds.

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.