Mobileye Global (NASDAQ:MBLY) Shares Climb 4.3% – Here’s What Happened

Shares of Mobileye Global Inc. (NASDAQ:MBLY) shot up 4.3% during mid-day trading on Wednesday. The stock traded as high as $7.30 and last traded at $7.3240. Approximately 1,561,291 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 6,882,146 shares. The stock had previously closed at $7.02.

Analyst Ratings Changes

A number of analysts recently commented on MBLY shares. JPMorgan Chase & Co. dropped their price target on Mobileye Global from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, July 24th. Barclays restated an “equal weight” rating and issued a $9.00 price objective (down from $14.00) on shares of Mobileye Global in a research note on Wednesday, September 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mobileye Global in a research report on Friday, October 2nd. TD Cowen lowered their target price on Mobileye Global from $11.50 to $9.00 and set a “buy” rating on the stock in a research note on Friday, July 24th. Finally, Zacks Research raised shares of Mobileye Global from a “hold” rating to a “strong-buy” rating in a report on Monday, September 21st. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $11.41.

Mobileye Global Stock Performance

The company’s 50 day moving average price is $8.17 and its 200-day moving average price is $8.59. The company has a market cap of $5.98 billion, a PE ratio of -1.43, a price-to-earnings-growth ratio of 2.25 and a beta of 1.25.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.06 by $0.13. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%. The business had revenue of $508.00 million for the quarter, compared to the consensus estimate of $480.51 million. During the same quarter in the prior year, the business earned ($0.08) earnings per share. Mobileye Global’s revenue for the quarter was up .4% on a year-over-year basis. Equities research analysts expect that Mobileye Global Inc. will post 0.11 EPS for the current year.

Insider Buying and Selling at Mobileye Global

In other news, Director Frank Yeary bought 12,360 shares of the stock in a transaction on Thursday, July 30th. The shares were purchased at an average cost of $7.98 per share, for a total transaction of $98,632.80. Following the completion of the purchase, the director directly owned 12,360 shares in the company, valued at $98,632.80. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Safroadu Yeboah-Amankwah purchased 11,841 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were purchased at an average cost of $8.46 per share, for a total transaction of $100,174.86. Following the transaction, the director directly owned 84,336 shares in the company, valued at approximately $713,482.56. The trade was a 16.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Mobileye Global

Institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP grew its position in shares of Mobileye Global by 63.6% in the 2nd quarter. Allworth Financial LP now owns 3,947 shares of the company’s stock worth $38,000 after buying an additional 1,535 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Mobileye Global by 11.0% during the second quarter. Integrated Wealth Concepts LLC now owns 17,421 shares of the company’s stock valued at $169,000 after buying an additional 1,732 shares during the period. Triumph Capital Management raised its holdings in shares of Mobileye Global by 7.1% during the second quarter. Triumph Capital Management now owns 30,988 shares of the company’s stock valued at $300,000 after acquiring an additional 2,062 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Mobileye Global by 15.3% during the first quarter. Cetera Investment Advisers now owns 17,267 shares of the company’s stock valued at $119,000 after acquiring an additional 2,286 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its stake in Mobileye Global by 18.3% in the second quarter. 180 Wealth Advisors LLC now owns 25,909 shares of the company’s stock worth $251,000 after acquiring an additional 4,017 shares during the period. 13.25% of the stock is owned by hedge funds and other institutional investors.

Mobileye Global Company Profile

Mobileye Global Inc is a technology company focused on advanced driver-assistance systems (ADAS) and autonomous driving. Its technologies are designed to help improve road safety and support automated driving through computer vision, artificial intelligence, sensor fusion and mapping.

The company develops and supplies products for automakers and mobility providers, including EyeQ system-on-chips, camera-based driver-assistance features, SuperVision hands-free driving technology, and autonomous driving platforms.