Mobileye Global (NASDAQ:MBLY) Stock Price Down 3.5% on Analyst Downgrade

Mobileye Global Inc. (NASDAQ:MBLY) shares dropped 3.5% during mid-day trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $11.00 to $10.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Mobileye Global traded as low as $11.92 and last traded at $11.87. Approximately 234,929 shares changed hands during trading, a decline of 96% from the average daily volume of 5,393,245 shares. The stock had previously closed at $12.30.

Several other research firms have also recently weighed in on MBLY. Barclays reissued an “equal weight” rating and set a $14.00 price target (down from $22.00) on shares of Mobileye Global in a report on Tuesday. Piper Sandler increased their price objective on shares of Mobileye Global from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. Oppenheimer assumed coverage on shares of Mobileye Global in a research report on Wednesday, January 15th. They set an “outperform” rating and a $28.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $20.00 target price on shares of Mobileye Global in a research report on Wednesday, March 26th. Finally, UBS Group lowered their price objective on Mobileye Global from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.55.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MBLY. HighTower Advisors LLC raised its holdings in shares of Mobileye Global by 141.6% in the 3rd quarter. HighTower Advisors LLC now owns 25,302 shares of the company’s stock valued at $345,000 after purchasing an additional 14,829 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Mobileye Global by 101.8% in the third quarter. Stifel Financial Corp now owns 179,236 shares of the company’s stock worth $2,456,000 after buying an additional 90,436 shares during the last quarter. Geode Capital Management LLC grew its stake in Mobileye Global by 24.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,431,325 shares of the company’s stock valued at $19,615,000 after purchasing an additional 279,082 shares during the last quarter. Virtu Financial LLC acquired a new position in Mobileye Global in the 3rd quarter worth approximately $229,000. Finally, Sanctuary Advisors LLC acquired a new stake in Mobileye Global during the 3rd quarter valued at approximately $273,000. 13.25% of the stock is currently owned by hedge funds and other institutional investors.

Mobileye Global Stock Down 3.8 %

The stock has a market cap of $9.59 billion, a price-to-earnings ratio of -3.11, a price-to-earnings-growth ratio of 69.54 and a beta of 0.39. The stock’s 50 day moving average price is $15.25 and its two-hundred day moving average price is $15.86.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. On average, analysts predict that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal year.

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.