Mobileye Global (NASDAQ:MBLY) Shares Gap Down to $12.62

Mobileye Global Inc. (NASDAQ:MBLY)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $12.62, but opened at $12.14. Mobileye Global shares last traded at $11.73, with a volume of 2,089,604 shares traded.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Hsbc Global Res upgraded Mobileye Global to a “strong-buy” rating in a research note on Monday, July 15th. Wolfe Research lowered shares of Mobileye Global from an “outperform” rating to a “peer perform” rating in a report on Thursday. Morgan Stanley raised shares of Mobileye Global from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $25.00 to $18.00 in a report on Friday, August 2nd. Westpark Capital reissued a “hold” rating on shares of Mobileye Global in a research note on Wednesday, July 31st. Finally, Barclays cut their price target on shares of Mobileye Global from $40.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.60.

Mobileye Global Price Performance

The stock’s 50 day simple moving average is $19.71 and its two-hundred day simple moving average is $25.49. The company has a market capitalization of $9.58 billion, a P/E ratio of -56.05 and a beta of 0.13.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Mobileye Global had a negative net margin of 12.14% and a positive return on equity of 1.32%. The business had revenue of $439.00 million during the quarter, compared to analyst estimates of $424.34 million. During the same quarter last year, the business posted $0.11 earnings per share. Mobileye Global’s revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, equities research analysts expect that Mobileye Global Inc. will post -0.07 earnings per share for the current year.

Insider Transactions at Mobileye Global

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

Hedge Funds Weigh In On Mobileye Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Securities Inc. bought a new stake in shares of Mobileye Global in the 4th quarter valued at about $28,000. Register Financial Advisors LLC acquired a new position in Mobileye Global during the first quarter valued at approximately $32,000. National Bank of Canada FI increased its stake in Mobileye Global by 90.0% in the fourth quarter. National Bank of Canada FI now owns 1,425 shares of the company’s stock valued at $59,000 after purchasing an additional 675 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in Mobileye Global in the fourth quarter worth $77,000. Finally, Cranbrook Wealth Management LLC bought a new position in shares of Mobileye Global during the second quarter worth $84,000. Institutional investors own 13.25% of the company’s stock.

Mobileye Global Company Profile

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.