Mobileye Global (NASDAQ:MBLY) Shares Gap Down – Time to Sell?

Mobileye Global Inc. (NASDAQ:MBLY) shares gapped down prior to trading on Friday . The stock had previously closed at $12.29, but opened at $11.79. Mobileye Global shares last traded at $12.09, with a volume of 676,807 shares trading hands.

Analyst Ratings Changes

A number of research firms have commented on MBLY. Mizuho cut shares of Mobileye Global from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $30.00 to $13.00 in a research note on Friday. HSBC assumed coverage on Mobileye Global in a research note on Monday, July 15th. They issued a “buy” rating and a $33.00 target price on the stock. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.00 price objective (down from $16.00) on shares of Mobileye Global in a report on Monday, October 7th. UBS Group cut Mobileye Global from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $20.00 to $14.00 in a report on Friday, October 4th. Finally, Royal Bank of Canada cut their target price on Mobileye Global from $34.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Mobileye Global currently has an average rating of “Hold” and an average price target of $26.85.

Mobileye Global Stock Up 4.9 %

The company has a market cap of $10.43 billion, a P/E ratio of -61.38 and a beta of 0.08. The business has a fifty day moving average of $13.35 and a 200 day moving average of $22.73.

Mobileye Global (NASDAQ:MBLY) last posted its earnings results on Thursday, August 1st. The company reported $0.09 EPS 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 firm had revenue of $439.00 million during the quarter, compared to analysts’ expectations of $424.34 million. During the same period last year, the company posted $0.11 EPS. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Mobileye Global Inc. will post -0.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other 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 bought at an average cost of $16.51 per share, for a total transaction 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. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Amnon Shashua acquired 631,963 shares of the stock in a transaction on Friday, August 2nd. The stock was acquired at an average price 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 owns 4,080,097 shares of the company’s stock, valued at $67,362,401.47. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Patrick P. Gelsinger bought 6,400 shares of Mobileye Global stock in a transaction dated Monday, August 5th. The stock was 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 in the company, valued at approximately $2,153,360.88. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Mobileye Global

Several large investors have recently made changes to their positions in MBLY. Register Financial Advisors LLC bought a new position in Mobileye Global during the 1st quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Mobileye Global in the fourth quarter worth $77,000. Cranbrook Wealth Management LLC bought a new position in shares of Mobileye Global during the second quarter valued at $84,000. Natixis Investment Managers International bought a new position in Mobileye Global in the 1st quarter worth about $99,000. Finally, EverSource Wealth Advisors LLC grew its position in Mobileye Global by 1,019.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,819 shares of the company’s stock valued at $107,000 after purchasing an additional 3,478 shares during the last quarter. 13.25% of the stock is currently owned by hedge funds and other 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.