Mobileye Global (NASDAQ:MBLY) Stock Moved Down to “Hold” by Zacks Research

Mobileye Global (NASDAQ:MBLY) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks reports.

MBLY has been the topic of several other reports. Tigress Financial dropped their price target on Mobileye Global from $25.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. TD Cowen reduced their price objective on Mobileye Global from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday. The Goldman Sachs Group lowered their price objective on shares of Mobileye Global from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 6th. Citigroup started coverage on shares of Mobileye Global in a research report on Friday, October 16th. They set a “buy” rating and a $11.00 target price on the stock. Finally, Canaccord Genuity Group dropped their target price on shares of Mobileye Global from $17.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.08.

Mobileye Global Stock Performance

NASDAQ MBLY opened at $7.02 on Tuesday. The stock has a 50-day simple moving average of $8.00 and a 200 day simple moving average of $8.60. Mobileye Global has a twelve month low of $6.47 and a twelve month high of $14.91. The stock has a market capitalization of $5.90 billion, a PE ratio of -1.41, a P/E/G ratio of 2.36 and a beta of 1.25.

Mobileye Global (NASDAQ:MBLY) last released its earnings results on Thursday, July 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.13. The firm had revenue of $508.00 million for the quarter, compared to analyst estimates of $480.51 million. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%. The company’s revenue was up .4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.08) EPS. As a group, equities research analysts forecast that Mobileye Global will post 0.11 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Frank Yeary bought 12,360 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was acquired at an average cost of $7.98 per share, for a total transaction of $98,632.80. Following the completion of the purchase, the director owned 12,360 shares of the company’s stock, valued at $98,632.80. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Safroadu Yeboah-Amankwah bought 11,841 shares of Mobileye Global stock in a transaction that occurred on Thursday, August 6th. The stock was purchased at an average cost of $8.46 per share, with a total value of $100,174.86. Following the completion of the transaction, the director owned 84,336 shares of the company’s stock, valued at $713,482.56. This trade represents a 16.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Mobileye Global

Several institutional investors and hedge funds have recently bought and sold shares of MBLY. Bogart Wealth LLC raised its stake in shares of Mobileye Global by 5,000.0% in the 1st quarter. Bogart Wealth LLC now owns 5,100 shares of the company’s stock valued at $35,000 after buying an additional 5,000 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Mobileye Global by 63.6% during the 2nd quarter. Allworth Financial LP now owns 3,947 shares of the company’s stock worth $38,000 after acquiring an additional 1,535 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Mobileye Global by 204.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,686 shares of the company’s stock valued at $60,000 after acquiring an additional 5,837 shares in the last quarter. Nykredit A S acquired a new stake in shares of Mobileye Global during the 2nd quarter valued at about $77,000. Finally, Impact Partnership Wealth LLC acquired a new stake in shares of Mobileye Global during the 1st quarter valued at about $81,000. Institutional investors own 13.25% of the company’s stock.

About Mobileye Global

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.