Mobileye Global (NASDAQ:MBLY) Trading Down 8% – Here’s What Happened

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Barclays upgraded Mobileye Global from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $17.00 to $16.00 in a report on Monday, January 5th. HSBC upgraded shares of Mobileye Global to a “strong-buy” rating in a research note on Friday, January 23rd. UBS Group decreased their target price on shares of Mobileye Global from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, January 23rd. The Goldman Sachs Group lowered their price target on shares of Mobileye Global from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, November 26th. Finally, Morgan Stanley dropped their price target on shares of Mobileye Global from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.89.

Mobileye Global Trading Down 8.5%

The business has a 50 day simple moving average of $9.00 and a two-hundred day simple moving average of $11.40. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of -14.55 and a beta of 0.59.

Mobileye Global (NASDAQ:MBLY) last announced 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 positive return on equity of 0.21% and a negative net margin of 20.70%.The company had revenue of $446.00 million for the quarter, compared to analyst estimates of $430.69 million. During the same period in the prior year, the company posted $0.13 EPS. Mobileye Global’s quarterly revenue was down 9.0% on a year-over-year basis. Research analysts anticipate that Mobileye Global Inc. will post 0.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

Mobileye Global Company Profile

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.