Berenberg Bank Initiates Coverage on Mobileye Global (NASDAQ:MBLY)

Stock analysts at Berenberg Bank started coverage on shares of Mobileye Global (NASDAQ:MBLY) in a research note issued to investors on Wednesday. The brokerage set a “buy” rating and a $9.30 price target on the stock. Berenberg Bank’s target price suggests a potential upside of 35.37% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Barclays lowered their price objective on Mobileye Global from $16.00 to $14.00 and set an “overweight” rating on the stock in a report on Monday. Wall Street Zen cut Mobileye Global from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. JPMorgan Chase & Co. raised Mobileye Global from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $12.00 to $13.00 in a report on Tuesday, January 6th. HSBC upgraded Mobileye Global to a “strong-buy” rating in a research report on Friday, January 23rd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Mobileye Global in a report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $15.48.

Mobileye Global Stock Performance

MBLY stock opened at $6.87 on Wednesday. Mobileye Global has a one year low of $6.47 and a one year high of $20.18. The stock has a market capitalization of $5.60 billion, a PE ratio of -14.02 and a beta of 0.59. The company has a fifty day moving average of $8.53 and a 200-day moving average of $11.08.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings results on Thursday, January 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $446.00 million for the quarter, compared to analyst estimates of $430.69 million. Mobileye Global had a negative net margin of 20.70% and a positive return on equity of 0.21%. The business’s revenue was down 9.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 earnings per share. Equities analysts forecast that Mobileye Global will post 0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mobileye Global

Several hedge funds have recently bought and sold shares of the company. MAI Capital Management raised its stake in Mobileye Global by 22.2% in the 3rd quarter. MAI Capital Management now owns 4,400 shares of the company’s stock valued at $62,000 after purchasing an additional 800 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its stake in shares of Mobileye Global by 6.3% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 16,068 shares of the company’s stock worth $168,000 after purchasing an additional 957 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Mobileye Global by 2.5% during the 2nd quarter. Sei Investments Co. now owns 45,080 shares of the company’s stock worth $811,000 after purchasing an additional 1,090 shares during the last quarter. Cresset Asset Management LLC grew its holdings in shares of Mobileye Global by 6.3% during the third quarter. Cresset Asset Management LLC now owns 18,819 shares of the company’s stock worth $266,000 after buying an additional 1,110 shares in the last quarter. Finally, Country Club Bank raised its position in shares of Mobileye Global by 0.8% in the third quarter. Country Club Bank now owns 144,803 shares of the company’s stock valued at $2,048,000 after buying an additional 1,188 shares during the last quarter. 13.25% of the stock is owned by hedge funds and other institutional investors.

About Mobileye Global

Mobileye Global Inc (NASDAQ: MBLY) is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye’s core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.

Founded in 1999 by Prof.