Mobileye Global (NASDAQ:MBLY) Shares Down 8% – What’s Next?

Mobileye Global Inc. (NASDAQ:MBLY)’s share price was down 8% on Tuesday . The company traded as low as $7.22 and last traded at $7.1690. Approximately 6,166,742 shares changed 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

MBLY has been the topic of a number of recent analyst reports. Tigress Financial reissued a “buy” rating and issued a $25.00 price objective on shares of Mobileye Global in a research note on Thursday, January 29th. Canaccord Genuity Group cut their target price on Mobileye Global from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, January 23rd. JPMorgan Chase & Co. raised Mobileye Global from an “underweight” rating to a “neutral” rating and raised their target price for the company from $12.00 to $13.00 in a report on Tuesday, January 6th. Wolfe Research lowered Mobileye Global from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 12th. Finally, Barclays raised Mobileye Global from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $17.00 to $16.00 in a report on Monday, January 5th. One 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $15.89.

Mobileye Global Trading Down 1.6%

The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of -13.92 and a beta of 0.59. The stock’s 50-day moving average is $8.84 and its 200-day moving average is $11.31.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings data on Thursday, January 22nd. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate 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 the consensus estimate of $430.69 million. During the same quarter last year, the business posted $0.13 EPS. Mobileye Global’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, equities research analysts anticipate that Mobileye Global Inc. will post 0.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Intel Corp bought a new stake in Mobileye Global during the 3rd quarter worth approximately $706,000,000. Burkehill Global Management LP acquired a new position in Mobileye Global in the 3rd quarter valued at approximately $42,360,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Mobileye Global during the third quarter valued at $40,670,000. DNB Asset Management AS acquired a new position in shares of Mobileye Global during the third quarter worth $40,212,000. Finally, Two Sigma Investments LP lifted its holdings in shares of Mobileye Global by 131.9% during the third quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company’s stock worth $61,898,000 after purchasing an additional 2,493,181 shares during the period. Institutional investors and hedge funds own 13.25% of the company’s stock.

About Mobileye Global

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.