Mobileye Global (NASDAQ:MBLY) Stock Rating Lowered by Royal Bank Of Canada

Mobileye Global (NASDAQ:MBLY) was downgraded by equities researchers at Royal Bank Of Canada from a “sector perform” rating to an “underperform” rating in a report issued on Wednesday, Briefing.com reports. They presently have a $5.00 price target on the stock. Royal Bank Of Canada’s target price would indicate a potential downside of 31.51% from the stock’s previous close.

A number of other research analysts have also recently commented on MBLY. Morgan Stanley lowered their price target on Mobileye Global from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday, October 15th. Canaccord Genuity Group reduced their price objective on Mobileye Global from $17.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, July 24th. Needham & Company LLC reissued a “buy” rating and issued a $13.00 target price on shares of Mobileye Global in a research note on Friday, July 24th. Zacks Research upgraded Mobileye Global from a “hold” rating to a “strong-buy” rating in a report on Monday, September 21st. Finally, TD Cowen lowered their price objective on shares of Mobileye Global from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $11.08.

Mobileye Global Stock Performance

Shares of NASDAQ:MBLY opened at $7.30 on Wednesday. The stock’s 50-day simple moving average is $8.03 and its two-hundred day simple moving average is $8.61. Mobileye Global has a 52-week low of $6.47 and a 52-week high of $15.19. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of -1.46, a PEG ratio of 2.39 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, topping the consensus estimate of $0.06 by $0.13. The firm had revenue of $508.00 million during the quarter, compared to analyst estimates of $480.51 million. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%. Mobileye Global’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.08) EPS. As a group, equities analysts forecast that Mobileye Global will post 0.11 earnings per share for the current fiscal year.

Insider Activity at Mobileye Global

In other news, Director Safroadu Yeboah-Amankwah purchased 11,841 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were acquired at an average cost of $8.46 per share, with a total value of $100,174.86. Following the completion of the acquisition, the director 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frank Yeary bought 12,360 shares of Mobileye Global stock in a transaction that occurred on Thursday, July 30th. The shares were acquired at an average cost of $7.98 per share, for a total transaction of $98,632.80. Following the completion of the transaction, the director directly owned 12,360 shares in the company, valued at $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 institutional investors and hedge funds have recently modified their holdings of the company. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Mobileye Global in the 3rd quarter valued at $431,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of Mobileye Global in the third quarter valued at approximately $122,000. Counterpoint Mutual Funds LLC purchased a new stake in Mobileye Global in the 3rd quarter worth $9,074,000. Vontobel Holding Ltd. increased its holdings in Mobileye Global by 51.2% in the 3rd quarter. Vontobel Holding Ltd. now owns 38,030 shares of the company’s stock worth $281,000 after acquiring an additional 12,870 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Mobileye Global by 6.9% during the third quarter. Assenagon Asset Management S.A. now owns 2,586,131 shares of the company’s stock worth $19,112,000 after acquiring an additional 166,392 shares during the period. Institutional investors and hedge funds own 13.25% of the company’s stock.

About Mobileye Global

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.