Mobileye Global (NASDAQ:MBLY) Stock Price Down 11.8% on Analyst Downgrade

Shares of Mobileye Global Inc. (NASDAQ:MBLY) traded down 11.8% during mid-day trading on Thursday after UBS Group lowered their price target on the stock from $17.00 to $14.00. UBS Group currently has a neutral rating on the stock. Mobileye Global traded as low as $13.08 and last traded at $13.36. 1,803,361 shares were traded during mid-day trading, a decline of 66% from the average session volume of 5,358,439 shares. The stock had previously closed at $15.14.

Several other equities analysts have also issued reports on the stock. Oppenheimer started coverage on shares of Mobileye Global in a report on Wednesday, January 15th. They issued an “outperform” rating and a $28.00 price target for the company. Loop Capital increased their price target on Mobileye Global from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Mizuho dropped their price target on Mobileye Global from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. The Goldman Sachs Group lowered their target price on Mobileye Global from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Piper Sandler upped their price objective on Mobileye Global from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, March 20th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Mobileye Global currently has a consensus rating of “Hold” and an average target price of $21.95.

Hedge Funds Weigh In On Mobileye Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in MBLY. ARK Investment Management LLC boosted its holdings in Mobileye Global by 89.4% in the fourth quarter. ARK Investment Management LLC now owns 141,812 shares of the company’s stock valued at $2,825,000 after acquiring an additional 66,934 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Mobileye Global by 24.2% during the third quarter. Geode Capital Management LLC now owns 1,431,325 shares of the company’s stock worth $19,615,000 after buying an additional 279,082 shares during the period. Versant Capital Management Inc raised its stake in Mobileye Global by 580.0% during the fourth quarter. Versant Capital Management Inc now owns 1,326 shares of the company’s stock worth $26,000 after buying an additional 1,131 shares during the last quarter. Handelsbanken Fonder AB acquired a new position in Mobileye Global in the fourth quarter valued at $442,000. Finally, Yiheng Capital Management L.P. bought a new stake in Mobileye Global during the fourth quarter valued at $14,940,000. 13.25% of the stock is currently owned by institutional investors and hedge funds.

Mobileye Global Stock Performance

The stock has a fifty day simple moving average of $15.47 and a two-hundred day simple moving average of $15.90. The stock has a market capitalization of $10.50 billion, a price-to-earnings ratio of -3.39, a P/E/G ratio of 69.54 and a beta of 0.39.

Mobileye Global (NASDAQ:MBLY) last issued its earnings results on Thursday, January 30th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.08). Mobileye Global had a negative return on equity of 0.34% and a negative net margin of 186.82%. Research analysts forecast that Mobileye Global Inc. will post 0.01 earnings per share for the current year.

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.