Mobileye Global (NASDAQ:MBLY) Shares Down 6.7%

Mobileye Global Inc. (NASDAQ:MBLY)’s stock price was down 6.7% during trading on Friday . The stock traded as low as $11.48 and last traded at $11.77. Approximately 4,402,395 shares traded hands during trading, a decline of 0% from the average daily volume of 4,418,114 shares. The stock had previously closed at $12.62.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Hsbc Global Res upgraded shares of Mobileye Global to a “strong-buy” rating in a research note on Monday, July 15th. Westpark Capital reiterated a “hold” rating on shares of Mobileye Global in a research report on Wednesday, July 31st. The Goldman Sachs Group reduced their target price on Mobileye Global from $32.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. UBS Group dropped their price target on Mobileye Global from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, Morgan Stanley upgraded shares of Mobileye Global from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $25.00 to $18.00 in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.60.

Mobileye Global Trading Down 7.4 %

The stock has a 50 day simple moving average of $19.71 and a 200 day simple moving average of $25.49. The firm has a market capitalization of $9.46 billion, a PE ratio of -56.38 and a beta of 0.13.

Mobileye Global (NASDAQ:MBLY) last issued its earnings results on Thursday, August 1st. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $439.00 million for the quarter, compared to the consensus estimate of $424.34 million. Mobileye Global had a negative net margin of 12.14% and a positive return on equity of 1.32%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 earnings per share. As a group, equities analysts anticipate that Mobileye Global Inc. will post -0.07 earnings per share for the current year.

Insider Activity

In other Mobileye Global news, CEO Amnon Shashua purchased 631,963 shares of Mobileye Global stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average price of $16.51 per share, for a total transaction of $10,433,709.13. Following the acquisition, the chief executive officer now directly owns 4,080,097 shares in the company, valued at $67,362,401.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Patrick P. Gelsinger acquired 6,400 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $15.48 per share, for a total transaction of $99,072.00. Following the acquisition, the director now owns 139,106 shares of the company’s stock, valued at $2,153,360.88. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amnon Shashua bought 631,963 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average cost of $16.51 per share, with a total value of $10,433,709.13. Following the completion of the transaction, the chief executive officer now owns 4,080,097 shares in the company, valued at approximately $67,362,401.47. The disclosure for this purchase can be found here. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Mobileye Global

Institutional investors have recently bought and sold shares of the stock. Green Alpha Advisors LLC raised its holdings in Mobileye Global by 2.6% in the first quarter. Green Alpha Advisors LLC now owns 19,609 shares of the company’s stock worth $630,000 after purchasing an additional 500 shares in the last quarter. Principal Securities Inc. bought a new position in shares of Mobileye Global in the 4th quarter worth about $28,000. Perigon Wealth Management LLC lifted its position in Mobileye Global by 6.7% during the 1st quarter. Perigon Wealth Management LLC now owns 10,592 shares of the company’s stock valued at $341,000 after acquiring an additional 664 shares during the period. National Bank of Canada FI boosted its stake in Mobileye Global by 90.0% during the fourth quarter. National Bank of Canada FI now owns 1,425 shares of the company’s stock worth $59,000 after acquiring an additional 675 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Mobileye Global by 9.9% during the first quarter. Advisors Asset Management Inc. now owns 8,608 shares of the company’s stock worth $277,000 after acquiring an additional 774 shares in the last quarter. 13.25% of the stock is owned by institutional investors.

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.