Mobileye Global (NASDAQ:MBLY) Shares Down 4.5%

Shares of Mobileye Global Inc. (NASDAQ:MBLY) dropped 4.5% on Monday . The stock traded as low as $13.66 and last traded at $13.74. Approximately 2,650,937 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 4,778,627 shares. The stock had previously closed at $14.39.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Fox Advisors lowered Mobileye Global from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. Royal Bank of Canada reduced their price objective on shares of Mobileye Global from $34.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Needham & Company LLC dropped their target price on shares of Mobileye Global from $36.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Hsbc Global Res raised shares of Mobileye Global to a “strong-buy” rating in a research note on Monday, July 15th. Finally, HSBC began coverage on shares of Mobileye Global in a research note on Monday, July 15th. They issued a “buy” rating and a $33.00 price target for the company. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $29.10.

Mobileye Global Stock Performance

The firm has a market capitalization of $10.75 billion, a P/E ratio of -63.24 and a beta of 0.08. The firm has a 50 day simple moving average of $14.51 and a two-hundred day simple moving average of $23.68.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. Mobileye Global had a negative net margin of 12.14% and a positive return on equity of 1.32%. The business had revenue of $439.00 million for the quarter, compared to analysts’ expectations of $424.34 million. During the same period in the previous year, the company earned $0.11 earnings per share. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. Sell-side analysts anticipate that Mobileye Global Inc. will post -0.06 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On Mobileye Global

Several institutional investors and hedge funds have recently bought and sold shares of MBLY. Register Financial Advisors LLC purchased a new position in shares of Mobileye Global during the 1st quarter valued at $32,000. Newbridge Financial Services Group Inc. bought a new position in Mobileye Global during the fourth quarter worth about $77,000. Cranbrook Wealth Management LLC purchased a new position in shares of Mobileye Global in the second quarter worth about $84,000. Natixis Investment Managers International purchased a new position in shares of Mobileye Global in the first quarter worth about $99,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Mobileye Global by 64.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,736 shares of the company’s stock valued at $162,000 after purchasing an additional 1,470 shares during the period. 13.25% of the stock is owned by institutional investors.

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.