Prescott Group Capital Management L.L.C. Invests $3.67 Million in Mobileye Global Inc. $MBLY

Prescott Group Capital Management L.L.C. purchased a new position in Mobileye Global Inc. (NASDAQ:MBLY) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 351,463 shares of the company’s stock, valued at approximately $3,669,000.

A number of other hedge funds have also modified their holdings of the stock. MAI Capital Management increased its stake in shares of Mobileye Global by 22.2% in the third quarter. MAI Capital Management now owns 4,400 shares of the company’s stock worth $62,000 after acquiring an additional 800 shares during the last quarter. Dynamic Advisor Solutions LLC increased its position in Mobileye Global by 6.3% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 16,068 shares of the company’s stock worth $168,000 after buying an additional 957 shares during the last quarter. Sei Investments Co. increased its position in Mobileye Global by 2.5% during the second quarter. Sei Investments Co. now owns 45,080 shares of the company’s stock worth $811,000 after buying an additional 1,090 shares during the last quarter. Cresset Asset Management LLC increased its position in Mobileye Global by 6.3% during the third quarter. Cresset Asset Management LLC now owns 18,819 shares of the company’s stock worth $266,000 after buying an additional 1,110 shares during the last quarter. Finally, State of Wyoming increased its position in Mobileye Global by 5.8% during the third quarter. State of Wyoming now owns 23,801 shares of the company’s stock worth $336,000 after buying an additional 1,306 shares during the last quarter. 13.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MBLY has been the topic of several analyst reports. The Goldman Sachs Group increased their target price on shares of Mobileye Global from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Wells Fargo & Company lowered their target price on shares of Mobileye Global from $24.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Jefferies Financial Group initiated coverage on shares of Mobileye Global in a research report on Monday. They set an “underperform” rating and a $8.00 target price on the stock. BNP Paribas Exane lowered their target price on shares of Mobileye Global from $11.50 to $8.50 and set a “neutral” rating on the stock in a research report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Mobileye Global from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.70.

Mobileye Global Stock Performance

Shares of NASDAQ:MBLY opened at $9.77 on Thursday. The company has a market cap of $8.22 billion, a P/E ratio of -1.94 and a beta of 1.06. The stock’s 50-day moving average is $8.14 and its 200-day moving average is $9.68. Mobileye Global Inc. has a 52-week low of $6.47 and a 52-week high of $20.18.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. The company had revenue of $558.00 million for the quarter, compared to the consensus estimate of $519.34 million. Mobileye Global had a positive return on equity of 0.33% and a negative net margin of 203.97%.The firm’s revenue was up 27.4% compared to the same quarter last year. During the same period last year, the business posted $0.08 earnings per share. As a group, equities analysts predict that Mobileye Global Inc. will post -0.07 EPS for the current year.

Mobileye Global announced that its Board of Directors has initiated a stock buyback plan on Thursday, April 23rd that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Mobileye Global 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.