Mobileye Global (NASDAQ:MBLY) Shares Down 4.5%

Mobileye Global Inc. (NASDAQ:MBLY) was down 4.5% during mid-day trading on Monday . The company traded as low as $13.66 and last traded at $13.74. Approximately 2,650,937 shares changed hands 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.

Analysts Set New Price Targets

A number of equities analysts recently commented on MBLY shares. BNP Paribas downgraded shares of Mobileye Global from an “outperform” rating to a “neutral” rating and set a $17.00 target price for the company. in a research note on Monday, August 5th. Robert W. Baird decreased their price objective on shares of Mobileye Global from $40.00 to $29.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Hsbc Global Res upgraded shares of Mobileye Global to a “strong-buy” rating in a research note on Monday, July 15th. Wolfe Research cut shares of Mobileye Global from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. Finally, Westpark Capital reissued a “hold” rating on shares of Mobileye Global in a report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.55.

Mobileye Global Price Performance

The stock has a market cap of $11.08 billion, a P/E ratio of -68.52 and a beta of 0.08. The stock’s fifty day simple moving average is $14.91 and its 200-day simple moving average is $23.89.

Mobileye Global (NASDAQ:MBLY) last issued its 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. The firm had revenue of $439.00 million for the quarter, compared to analyst estimates of $424.34 million. Mobileye Global had a positive return on equity of 1.32% and a negative net margin of 12.14%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period last year, the company earned $0.11 earnings per share. Analysts forecast that Mobileye Global Inc. will post -0.06 EPS for the current year.

Insider Buying and Selling at Mobileye Global

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

Hedge Funds Weigh In On Mobileye Global

Institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its stake in shares of Mobileye Global by 807.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,073,601 shares of the company’s stock valued at $254,832,000 after purchasing an additional 8,073,552 shares during the period. Baillie Gifford & Co. increased its position in shares of Mobileye Global by 89.8% in the 1st quarter. Baillie Gifford & Co. now owns 15,985,212 shares of the company’s stock valued at $513,925,000 after buying an additional 7,560,929 shares in the last quarter. Kodai Capital Management LP bought a new position in Mobileye Global during the 4th quarter worth about $148,924,000. Wellington Management Group LLP boosted its stake in shares of Mobileye Global by 200.3% during the 4th quarter. Wellington Management Group LLP now owns 3,398,211 shares of the company’s stock worth $147,210,000 after buying an additional 2,266,438 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in Mobileye Global in the 1st quarter valued at about $69,638,000. 13.25% of the stock is currently owned by institutional investors.

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.