Mobileye Global (NASDAQ:MBLY) Stock Price Down 6.4% – Time to Sell?

Mobileye Global Inc. (NASDAQ:MBLY) shares were down 6.4% on Friday. The company traded as low as $6.60 and last traded at $6.5050. 2,007,168 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 6,878,156 shares. The stock had previously closed at $6.95.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MBLY shares. Needham & Company LLC restated a “buy” rating and issued a $13.00 price target on shares of Mobileye Global in a report on Friday, July 24th. TD Cowen dropped their price target on shares of Mobileye Global from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday. The Goldman Sachs Group reduced their price objective on shares of Mobileye Global from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Tuesday, October 6th. Mizuho dropped their target price on shares of Mobileye Global from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, July 24th. Finally, Piper Sandler raised Mobileye Global from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $10.00 to $12.00 in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.08.

Mobileye Global Stock Down 5.4%

The firm has a market capitalization of $5.52 billion, a PE ratio of -1.32, a P/E/G ratio of 2.27 and a beta of 1.25. The stock has a 50-day simple moving average of $7.96 and a 200-day simple moving average of $8.60.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $508.00 million for the quarter, compared to analysts’ expectations of $480.51 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year. Equities analysts forecast that Mobileye Global Inc. will post 0.11 earnings per share for the current fiscal year.

Insider Transactions at Mobileye Global

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

Institutional Investors Weigh In On Mobileye Global

A number of hedge funds and other institutional investors have recently bought and sold shares of MBLY. Fifth Third Wealth Advisors LLC bought a new position in shares of Mobileye Global in the third quarter worth $80,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Mobileye Global in the third quarter valued at $431,000. Prime Capital Investment Advisors LLC bought a new stake in shares of Mobileye Global during the 3rd quarter valued at $122,000. Counterpoint Mutual Funds LLC bought a new stake in shares of Mobileye Global during the 3rd quarter valued at $9,074,000. Finally, Vontobel Holding Ltd. boosted its position in shares of Mobileye Global by 51.2% in the third quarter. Vontobel Holding Ltd. now owns 38,030 shares of the company’s stock valued at $281,000 after acquiring an additional 12,870 shares during the period. Institutional investors own 13.25% of the company’s stock.

Mobileye Global Company Profile

Mobileye Global Inc (NASDAQ:MBLY) develops advanced driver-assistance systems and autonomous driving technologies for vehicle manufacturers worldwide. Founded in 1999 and headquartered in Jerusalem, Israel, the company provides computer-vision and artificial-intelligence solutions designed to improve vehicle safety and support automated driving.

Its product portfolio includes EyeQ system-on-chips, camera-based driver-assistance features, and software for functions such as automatic emergency braking, lane-keeping assistance, adaptive cruise control, and traffic-sign recognition.