Mobileye Global (NASDAQ:MBLY) Hits New 52-Week Low – Here’s Why

Shares of Mobileye Global Inc. (NASDAQ:MBLY) reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $5.03 and last traded at $5.0650, with a volume of 922,505 shares. The stock had previously closed at $5.34.

Analysts Set New Price Targets

A number of analysts recently commented on MBLY shares. Royal Bank Of Canada cut Mobileye Global from a “sector perform” rating to an “underperform” rating and reduced their price objective for the company from $7.00 to $5.00 in a research report on Wednesday, October 21st. Berenberg Bank raised Mobileye Global from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Monday, August 17th. Tigress Financial cut their price target on Mobileye Global from $25.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Zacks Research lowered shares of Mobileye Global from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 20th. Finally, BNP Paribas Exane lowered their price objective on shares of Mobileye Global from $7.50 to $6.50 and set a “neutral” rating on the stock in a research note on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.43.

Mobileye Global Stock Up 11.7%

The stock has a market cap of $4.81 billion, a P/E ratio of -1.16, a price-to-earnings-growth ratio of 1.73 and a beta of 1.30. The business has a 50 day moving average price of $7.36 and a two-hundred day moving average price of $8.42.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Mobileye Global had a positive return on equity of 0.66% and a negative net margin of 201.25%. The company had revenue of $492.00 million for the quarter, compared to analysts’ expectations of $476.78 million. During the same period in the previous year, the firm earned $0.09 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. On average, research analysts forecast that Mobileye Global Inc. will post 0.11 earnings per share for the current year.

Institutional Trading of Mobileye Global

A number of institutional investors and hedge funds have recently bought and sold shares of MBLY. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Mobileye Global by 24.5% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,585,733 shares of the company’s stock valued at $24,634,000 after purchasing an additional 705,400 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Mobileye Global by 6.9% in the third quarter. Assenagon Asset Management S.A. now owns 2,586,131 shares of the company’s stock worth $19,112,000 after buying an additional 166,392 shares in the last quarter. Bank of America Corp DE boosted its stake in Mobileye Global by 5.8% during the first quarter. Bank of America Corp DE now owns 2,036,548 shares of the company’s stock valued at $13,991,000 after buying an additional 111,215 shares during the last quarter. M&G PLC boosted its stake in Mobileye Global by 1.2% during the third quarter. M&G PLC now owns 1,813,282 shares of the company’s stock valued at $12,693,000 after buying an additional 21,799 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in Mobileye Global during the third quarter valued at approximately $9,074,000. 13.25% of the stock is currently owned by institutional investors.

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.