Mobileye Global (NASDAQ:MBLY) Shares Gap Up to $31.12

Mobileye Global Inc. (NASDAQ:MBLY)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $31.12, but opened at $33.00. Mobileye Global shares last traded at $30.43, with a volume of 2,023,490 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Needham & Company LLC reissued a “buy” rating and set a $36.00 price objective on shares of Mobileye Global in a research report on Friday. Robert W. Baird reduced their price target on Mobileye Global from $43.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, January 26th. Mizuho reduced their price target on Mobileye Global from $42.00 to $38.00 and set a “buy” rating for the company in a report on Friday, January 26th. Morgan Stanley downgraded Mobileye Global from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $26.00 to $25.00 in a report on Friday. Finally, Royal Bank of Canada reduced their price objective on Mobileye Global from $45.00 to $39.00 and set an “outperform” rating for the company in a report on Friday, January 26th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.70.

Mobileye Global Price Performance

The firm has a market capitalization of $23.54 billion, a PE ratio of -139.04, a PEG ratio of 14.36 and a beta of -0.21. The firm has a 50-day simple moving average of $29.23 and a 200-day simple moving average of $33.40.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data on Thursday, January 25th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Mobileye Global had a positive return on equity of 1.75% and a negative net margin of 8.92%. The firm had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $637.53 million. During the same period in the previous year, the firm earned $0.27 EPS. The business’s quarterly revenue was up 12.7% on a year-over-year basis. Equities analysts expect that Mobileye Global Inc. will post 0.14 earnings per share for the current year.

Insider Activity

In related news, Director Patrick P. Gelsinger acquired 3,600 shares of the stock in a transaction dated Monday, January 29th. The shares were purchased at an average cost of $27.75 per share, with a total value of $99,900.00. Following the transaction, the director now directly owns 129,095 shares in the company, valued at $3,582,386.25. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. CWM LLC purchased a new position in Mobileye Global in the 3rd quarter worth approximately $25,000. Principal Securities Inc. purchased a new position in Mobileye Global in the 4th quarter worth approximately $28,000. Cary Street Partners Investment Advisory LLC purchased a new position in Mobileye Global in the 3rd quarter worth approximately $35,000. Register Financial Advisors LLC purchased a new position in Mobileye Global in the 1st quarter worth approximately $32,000. Finally, Venturi Wealth Management LLC lifted its holdings in Mobileye Global by 33.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,200 shares of the company’s stock worth $50,000 after purchasing an additional 300 shares in the last quarter. 13.25% of the stock is owned by hedge funds and other institutional investors.

About Mobileye Global

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.