Mobileye Global (NASDAQ:MBLY) Shares Gap Up to $11.42

Shares of Mobileye Global Inc. (NASDAQ:MBLY) gapped up before the market opened on Tuesday . The stock had previously closed at $11.42, but opened at $12.10. Mobileye Global shares last traded at $12.00, with a volume of 1,603,315 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Fox Advisors downgraded Mobileye Global from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. cut Mobileye Global from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $38.00 to $24.00 in a research report on Wednesday, July 31st. Westpark Capital reaffirmed a “hold” rating on shares of Mobileye Global in a research report on Wednesday, July 31st. Hsbc Global Res raised Mobileye Global to a “strong-buy” rating in a research report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $15.00 target price on shares of Mobileye Global in a report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Mobileye Global has an average rating of “Moderate Buy” and an average price target of $30.81.

Mobileye Global Stock Up 5.3 %

The firm has a market cap of $9.73 billion, a PE ratio of -57.14 and a beta of 0.08. The firm has a 50 day moving average of $17.37 and a 200 day moving average of $24.81.

Mobileye Global (NASDAQ:MBLY) last posted its earnings results on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $439.00 million for the quarter, compared to analyst estimates of $424.34 million. Mobileye Global had a negative net margin of 12.14% and a positive return on equity of 1.32%. Mobileye Global’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 EPS. On average, research analysts anticipate that Mobileye Global Inc. will post -0.07 EPS for the current year.

Insiders Place Their Bets

In other news, Director Patrick P. Gelsinger purchased 6,400 shares of the business’s stock in a transaction on Monday, August 5th. The shares were acquired at an average price of $15.48 per share, with a total value of $99,072.00. Following the acquisition, the director now directly owns 139,106 shares in the company, valued at $2,153,360.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Amnon Shashua purchased 631,963 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average price of $16.51 per share, for a total transaction of $10,433,709.13. Following the completion of the acquisition, the chief executive officer now directly owns 4,080,097 shares in the company, valued at approximately $67,362,401.47. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Patrick P. Gelsinger purchased 6,400 shares of Mobileye Global stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $15.48 per share, with a total value of $99,072.00. Following the completion of the purchase, the director now directly owns 139,106 shares of the company’s stock, valued at $2,153,360.88. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Green Alpha Advisors LLC boosted its position in shares of Mobileye Global by 2.6% during the first quarter. Green Alpha Advisors LLC now owns 19,609 shares of the company’s stock worth $630,000 after acquiring an additional 500 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Mobileye Global during the 4th quarter worth approximately $28,000. Perigon Wealth Management LLC lifted its holdings in Mobileye Global by 6.7% during the 1st quarter. Perigon Wealth Management LLC now owns 10,592 shares of the company’s stock valued at $341,000 after buying an additional 664 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Mobileye Global by 9.9% during the 1st quarter. Advisors Asset Management Inc. now owns 8,608 shares of the company’s stock worth $277,000 after purchasing an additional 774 shares during the period. Finally, Stephens Investment Management Group LLC grew its holdings in Mobileye Global by 1.1% during the 4th quarter. Stephens Investment Management Group LLC now owns 72,656 shares of the company’s stock worth $3,147,000 after acquiring an additional 779 shares in the last quarter. Hedge funds and other institutional investors own 13.25% of the company’s stock.

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.