Mobileye Global (NASDAQ:MBLY) Shares Up 7.5%

Mobileye Global Inc. (NASDAQ:MBLY)’s share price traded up 7.5% during mid-day trading on Tuesday . The company traded as high as $13.28 and last traded at $13.26. 3,502,021 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 4,702,011 shares. The stock had previously closed at $12.34.

Analyst Ratings Changes

A number of brokerages recently weighed in on MBLY. Wolfe Research downgraded shares of Mobileye Global from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. cut Mobileye Global from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $38.00 to $24.00 in a research report on Wednesday, July 31st. Morgan Stanley raised Mobileye Global from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $25.00 to $18.00 in a report on Friday, August 2nd. Barclays lowered their price objective on Mobileye Global from $40.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Finally, Daiwa Capital Markets downgraded shares of Mobileye Global from a “buy” rating to a “neutral” rating in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.81.

Mobileye Global Stock Up 4.8 %

The firm has a market cap of $10.46 billion, a P/E ratio of -63.24 and a beta of 0.08. The company has a 50 day moving average of $15.93 and a two-hundred day moving average of $24.30.

Mobileye Global (NASDAQ:MBLY) last released its earnings results on Thursday, August 1st. The company reported $0.09 EPS 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 the consensus estimate of $424.34 million. Mobileye Global had a negative net margin of 12.14% and a positive return on equity of 1.32%. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 EPS. Research analysts expect that Mobileye Global Inc. will post -0.07 earnings per share for the current fiscal year.

Insider Transactions at Mobileye Global

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Green Alpha Advisors LLC grew its stake in Mobileye Global by 2.6% during the 1st quarter. Green Alpha Advisors LLC now owns 19,609 shares of the company’s stock valued at $630,000 after acquiring an additional 500 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of Mobileye Global in the fourth quarter worth $28,000. Perigon Wealth Management LLC grew its stake in Mobileye Global by 6.7% in the first quarter. Perigon Wealth Management LLC now owns 10,592 shares of the company’s stock valued at $341,000 after purchasing an additional 664 shares in the last quarter. Advisors Asset Management Inc. increased its position in Mobileye Global by 9.9% in 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 last quarter. Finally, Stephens Investment Management Group LLC raised its stake in shares of 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 purchasing an additional 779 shares in the last quarter. Hedge funds and other institutional investors own 13.25% of the company’s stock.

About Mobileye Global

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.