Mobileye Global (NASDAQ:MBLY) Stock Price Down 4.4%

Mobileye Global Inc. (NASDAQ:MBLY)’s stock price traded down 4.4% on Friday . The company traded as low as $12.72 and last traded at $12.76. 1,212,649 shares were traded during trading, a decline of 74% from the average session volume of 4,597,916 shares. The stock had previously closed at $13.35.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MBLY shares. Fox Advisors cut shares of Mobileye Global from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. 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 report on Friday, August 2nd. Morgan Stanley upgraded Mobileye Global from an “underweight” rating to an “equal weight” rating and cut their target price for the company from $25.00 to $18.00 in a research note on Friday, August 2nd. HSBC initiated coverage on Mobileye Global in a report on Monday, July 15th. They issued a “buy” rating and a $33.00 target price for the company. Finally, Barclays lowered their price target on Mobileye Global from $40.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.81.

Mobileye Global Price Performance

The company has a 50-day moving average of $16.50 and a two-hundred day moving average of $24.54. The company has a market capitalization of $9.99 billion, a PE ratio of -59.90 and a beta of 0.08.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $439.00 million for the quarter, compared to analysts’ expectations of $424.34 million. Mobileye Global had a positive return on equity of 1.32% and a negative net margin of 12.14%. The business’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 EPS. As a group, research analysts anticipate that Mobileye Global Inc. will post -0.07 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Mobileye Global

Several hedge funds have recently made changes to their positions in MBLY. Principal Securities Inc. purchased a new stake in Mobileye Global during the fourth quarter valued at approximately $28,000. Register Financial Advisors LLC purchased a new stake in Mobileye Global during the 1st quarter valued at $32,000. Newbridge Financial Services Group Inc. bought a new stake in Mobileye Global in the fourth quarter worth $77,000. Cranbrook Wealth Management LLC purchased a new position in Mobileye Global during the second quarter worth $84,000. Finally, Natixis Investment Managers International bought a new position in Mobileye Global during the first quarter valued at $99,000. 13.25% of the stock is currently owned by hedge funds and other 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.