Mobileye Global (NASDAQ:MBLY) Shares Down 8% – What’s Next?

Mobileye Global Inc. (NASDAQ:MBLY)’s share price dropped 8% on Tuesday . The stock traded as low as $7.22 and last traded at $7.1690. Approximately 6,166,742 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 8,340,576 shares. The stock had previously closed at $7.79.

Analyst Ratings Changes

A number of research analysts have commented on MBLY shares. Wells Fargo & Company reduced their target price on Mobileye Global from $24.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. HSBC upgraded Mobileye Global to a “strong-buy” rating in a report on Friday, January 23rd. The Goldman Sachs Group reduced their price objective 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. Barclays raised shares of Mobileye Global from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $17.00 to $16.00 in a report on Monday, January 5th. 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 analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $15.89.

Mobileye Global Price Performance

The stock’s fifty day simple moving average is $9.00 and its 200-day simple moving average is $11.40. The stock has a market cap of $6.00 billion, a P/E ratio of -14.55 and a beta of 0.59.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings results on Thursday, January 22nd. The company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. The business 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 quarterly revenue was down 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 EPS. Analysts forecast that Mobileye Global Inc. will post 0.01 EPS for the current year.

Institutional Investors Weigh In On Mobileye Global

Several large investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC lifted its stake in Mobileye Global by 88.3% in the fourth quarter. Hsbc Holdings PLC now owns 222,753 shares of the company’s stock valued at $2,353,000 after buying an additional 104,455 shares during the last quarter. Alpine Global Management LLC bought a new position in shares of Mobileye Global during the fourth quarter worth about $181,000. Pacer Advisors Inc. acquired a new stake in shares of Mobileye Global in the 4th quarter worth about $15,290,000. Virtu Financial LLC bought a new stake in Mobileye Global in the 4th quarter valued at about $895,000. Finally, Vident Advisory LLC boosted its stake in Mobileye Global by 21.9% during the 4th quarter. Vident Advisory LLC now owns 32,632 shares of the company’s stock valued at $341,000 after purchasing an additional 5,873 shares during the period. 13.25% of the stock is owned by institutional investors and hedge funds.

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.