Mobileye Global (NASDAQ:MBLY) Trading 6% Higher – Should You Buy?

Mobileye Global Inc. (NASDAQ:MBLY)’s share price traded up 6% on Tuesday . The company traded as high as $10.19 and last traded at $10.1060. 1,483,925 shares were traded during trading, a decline of 80% from the average session volume of 7,429,185 shares. The stock had previously closed at $9.53.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Zacks Research upgraded Mobileye Global from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. BNP Paribas Exane dropped their price target on Mobileye Global from $11.50 to $8.50 and set a “neutral” rating on the stock in a research report on Wednesday, April 22nd. Canaccord Genuity Group reduced their price objective on Mobileye Global from $24.00 to $17.00 and set a “buy” rating for the company in a research report on Friday, April 24th. JPMorgan Chase & Co. reduced their price objective on Mobileye Global from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, April 16th. Finally, TD Cowen boosted their price objective on Mobileye Global from $8.50 to $10.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Mobileye Global currently has a consensus rating of “Hold” and an average price target of $13.77.

Mobileye Global Trading Up 2.7%

The business has a 50-day moving average price of $9.07 and a 200 day moving average price of $9.41. The company has a market cap of $8.23 billion, a price-to-earnings ratio of -1.94 and a beta of 1.15.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The business had revenue of $558.00 million for the quarter, compared to analyst estimates of $519.34 million. Mobileye Global had a negative net margin of 203.97% and a positive return on equity of 0.33%. The firm’s revenue was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.08 earnings per share. On average, analysts anticipate that Mobileye Global Inc. will post -0.07 earnings per share for the current year.

Mobileye Global announced that its board has approved a stock repurchase program on Thursday, April 23rd that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Mobileye Global

Several institutional investors have recently made changes to their positions in the stock. Burkehill Global Management LP acquired a new position in Mobileye Global in the third quarter worth approximately $42,360,000. DNB Asset Management AS acquired a new position in Mobileye Global in the third quarter worth approximately $40,212,000. Two Sigma Investments LP increased its holdings in Mobileye Global by 131.9% in the third quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company’s stock worth $61,898,000 after buying an additional 2,493,181 shares during the last quarter. Engineers Gate Manager LP increased its holdings in Mobileye Global by 140.9% in the fourth quarter. Engineers Gate Manager LP now owns 3,577,407 shares of the company’s stock worth $37,348,000 after buying an additional 2,092,250 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Mobileye Global by 436.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,489,803 shares of the company’s stock worth $35,156,000 after purchasing an additional 2,025,257 shares during the last quarter. 13.25% of the stock is currently owned by institutional investors and hedge funds.

Mobileye Global Company Profile

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.