Mobileye Global’s (MBLY) Equal Weight Rating Reiterated at Barclays

Barclays reaffirmed their equal weight rating on shares of Mobileye Global (NASDAQ:MBLY) in a report released on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $9.00 price target on the stock, down from their prior price target of $14.00.

Several other equities research analysts have also recently weighed in on the company. Weiss Ratings upgraded Mobileye Global from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 8th. UBS Group dropped their target price on shares of Mobileye Global from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, July 24th. Mizuho cut their target price on shares of Mobileye Global from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, July 24th. Canaccord Genuity Group reduced their price target on shares of Mobileye Global from $17.00 to $12.00 and set a “buy” rating for the company in a report on Friday, July 24th. Finally, Royal Bank Of Canada reduced their price target on shares of Mobileye Global from $10.00 to $7.00 and set a “sector perform” rating for the company in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Mobileye Global has a consensus rating of “Hold” and a consensus target price of $11.91.

Mobileye Global Stock Performance

MBLY opened at $7.42 on Wednesday. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of -1.49, a P/E/G ratio of 2.41 and a beta of 1.25. The stock’s 50 day moving average price is $8.31 and its 200-day moving average price is $8.61. Mobileye Global has a one year low of $6.47 and a one year high of $15.81.

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

Insiders Place Their Bets

In related news, Director Safroadu Yeboah-Amankwah acquired 11,841 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average price of $8.46 per share, with a total value of $100,174.86. Following the completion of the transaction, the director directly owned 84,336 shares in the company, valued at $713,482.56. This trade represents a 16.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank D. Yeary bought 12,360 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was bought at an average price of $7.98 per share, for a total transaction of $98,632.80. Following the purchase, the director directly owned 12,360 shares of the company’s stock, valued at $98,632.80. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 10.00% of the company’s stock.

Institutional Trading of Mobileye Global

Several hedge funds have recently modified their holdings of MBLY. BCGM Wealth Management LLC raised its stake in shares of Mobileye Global by 56.7% during the 1st quarter. BCGM Wealth Management LLC now owns 368,763 shares of the company’s stock worth $2,533,000 after acquiring an additional 133,471 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in Mobileye Global by 24.5% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,585,733 shares of the company’s stock valued at $24,634,000 after acquiring an additional 705,400 shares during the last quarter. Bank of America Corp DE boosted its stake in Mobileye Global by 5.8% in the first quarter. Bank of America Corp DE now owns 2,036,548 shares of the company’s stock valued at $13,991,000 after acquiring an additional 111,215 shares in the last quarter. Royal Bank of Canada boosted its stake in Mobileye Global by 129.6% in the first quarter. Royal Bank of Canada now owns 224,315 shares of the company’s stock valued at $1,541,000 after acquiring an additional 126,634 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Mobileye Global in the second quarter valued at approximately $23,423,000. 13.25% of the stock is owned by hedge funds and other institutional investors.

About Mobileye Global

Mobileye Global Inc is a technology company focused on advanced driver-assistance systems (ADAS) and autonomous driving. Its technologies are designed to help improve road safety and support automated driving through computer vision, artificial intelligence, sensor fusion and mapping.

The company develops and supplies products for automakers and mobility providers, including EyeQ system-on-chips, camera-based driver-assistance features, SuperVision hands-free driving technology, and autonomous driving platforms.