Mobileye Global (NASDAQ:MBLY) Sets New 52-Week Low – Here’s What Happened

Mobileye Global Inc. (NASDAQ:MBLY) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $10.70 and last traded at $10.7160, with a volume of 788506 shares traded. The stock had previously closed at $11.07.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Evercore ISI dropped their price target on shares of Mobileye Global from $25.00 to $20.00 and set an “outperform” rating for the company in a research note on Monday, November 24th. Bank of America cut their target price on shares of Mobileye Global from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 10th. Tigress Financial upped their price objective on Mobileye Global from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Barclays increased their target price on shares of Mobileye Global from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, October 10th. Finally, Mizuho dropped their price target on Mobileye Global from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Ten analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Mobileye Global presently has an average rating of “Hold” and an average target price of $18.55.

Mobileye Global Trading Down 1.6%

The firm has a market cap of $8.32 billion, a PE ratio of -24.35, a price-to-earnings-growth ratio of 4.74 and a beta of 0.54. The company has a 50-day simple moving average of $12.68 and a 200 day simple moving average of $14.35.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Mobileye Global had a negative net margin of 17.34% and a positive return on equity of 0.68%. The business had revenue of $504.00 million during the quarter, compared to the consensus estimate of $479.93 million. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The company’s revenue was up 3.7% compared to the same quarter last year. On average, equities analysts expect that Mobileye Global Inc. will post 0.01 earnings per share for the current year.

Institutional Trading of Mobileye Global

A number of institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in Mobileye Global by 1,799.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,851 shares of the company’s stock valued at $84,000 after acquiring an additional 5,543 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Mobileye Global by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 1,779,189 shares of the company’s stock worth $25,611,000 after acquiring an additional 63,261 shares during the last quarter. Raymond James Financial Inc. boosted its position in shares of Mobileye Global by 16.2% during the first quarter. Raymond James Financial Inc. now owns 803,852 shares of the company’s stock worth $11,571,000 after buying an additional 111,785 shares during the period. Northwest & Ethical Investments L.P. boosted its holdings in Mobileye Global by 11.6% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 67,360 shares of the company’s stock valued at $970,000 after acquiring an additional 6,975 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Mobileye Global in the 1st quarter valued at about $4,376,000. 13.25% of the stock is owned by institutional investors and hedge funds.

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.