Mobileye Global (NASDAQ:MBLY) Trading Down 5.6% – Here’s Why

Shares of Mobileye Global Inc. (NASDAQ:MBLY) dropped 5.6% during mid-day trading on Tuesday . The company traded as low as $13.77 and last traded at $13.59. Approximately 597,727 shares were traded during trading, a decline of 89% from the average daily volume of 5,269,976 shares. The stock had previously closed at $14.40.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MBLY. The Goldman Sachs Group raised their price objective on Mobileye Global from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Barclays upped their price objective on shares of Mobileye Global from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Bank of America upgraded shares of Mobileye Global from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $12.00 to $19.00 in a research note on Monday, February 10th. Oppenheimer initiated coverage on shares of Mobileye Global in a report on Wednesday, January 15th. They issued an “outperform” rating and a $28.00 price target for the company. Finally, Piper Sandler upped their target price on Mobileye Global from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $22.24.

Mobileye Global Stock Up 3.3 %

The firm has a market capitalization of $12.14 billion, a PE ratio of -3.92, a PEG ratio of 69.54 and a beta of 0.29. The stock has a 50-day moving average price of $15.94 and a 200 day moving average price of $15.84.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.08). Mobileye Global had a negative net margin of 186.82% and a negative return on equity of 0.34%. As a group, equities analysts predict that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mobileye Global

Several large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of Mobileye Global by 168.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,526,234 shares of the company’s stock worth $20,909,000 after purchasing an additional 957,565 shares in the last quarter. D.A. Davidson & CO. purchased a new stake in shares of Mobileye Global during the third quarter worth $189,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Mobileye Global in the third quarter valued at about $253,000. Centiva Capital LP boosted its position in Mobileye Global by 128.8% during the third quarter. Centiva Capital LP now owns 86,463 shares of the company’s stock worth $1,185,000 after acquiring an additional 48,673 shares during the last quarter. Finally, Holocene Advisors LP purchased a new stake in Mobileye Global during the 3rd quarter valued at about $227,000. 13.25% of the stock is currently owned by hedge funds and other institutional investors.

Mobileye Global Company Profile

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.