Mobileye Global (NASDAQ:MBLY) Shares Climb 4.3% – Time to Buy?

Mobileye Global Inc. (NASDAQ:MBLY) shot up 4.3% during mid-day trading on Wednesday. The stock traded as high as $7.30 and last traded at $7.3240. Approximately 1,561,291 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 6,882,146 shares. The stock had previously closed at $7.02.

Analyst Upgrades and Downgrades

MBLY has been the subject of several analyst reports. TD Cowen lowered their price target on shares of Mobileye Global from $11.50 to $9.00 and set a “buy” rating for the company in a research report on Friday, July 24th. Morgan Stanley dropped their price target on shares of Mobileye Global from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Thursday. Canaccord Genuity Group cut their price objective on shares of Mobileye Global from $17.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, July 24th. The Goldman Sachs Group cut their price objective on shares of Mobileye Global from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Tuesday, October 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Mobileye Global in a research note on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Mobileye Global has an average rating of “Hold” and an average price target of $11.25.

Mobileye Global Price Performance

The business has a 50 day moving average of $8.13 and a 200 day moving average of $8.60. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of -1.49, a PEG ratio of 2.35 and a beta of 1.25.

Mobileye Global (NASDAQ:MBLY) last released its earnings results on Thursday, July 23rd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.13. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%. The firm had revenue of $508.00 million for the quarter, compared to analyst estimates of $480.51 million. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis. As a group, equities analysts predict that Mobileye Global Inc. will post 0.11 EPS for the current year.

Insider Transactions at Mobileye Global

In other news, Director Frank Yeary purchased 12,360 shares of the business’s 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 transaction, the director directly owned 12,360 shares of the company’s stock, valued at approximately $98,632.80. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Safroadu Yeboah-Amankwah purchased 11,841 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was purchased at an average price of $8.46 per share, for a total transaction of $100,174.86. Following the completion of the transaction, the director directly owned 84,336 shares in the company, valued at $713,482.56. This trade represents a 16.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Mobileye Global

Several large investors have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Mobileye Global by 24.5% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,585,733 shares of the company’s stock worth $24,634,000 after purchasing an additional 705,400 shares in the last quarter. Engineers Gate Manager LP increased its position in shares of Mobileye Global by 140.9% in the 4th quarter. Engineers Gate Manager LP now owns 3,577,407 shares of the company’s stock valued at $37,348,000 after buying an additional 2,092,250 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Mobileye Global by 6.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,586,131 shares of the company’s stock valued at $19,112,000 after buying an additional 166,392 shares in the last quarter. Bank of America Corp DE increased its position in shares of Mobileye Global by 5.8% in the 1st 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 in the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in Mobileye Global during the 4th quarter worth $15,290,000. Institutional investors own 13.25% of the company’s stock.

Mobileye Global Company Profile

Mobileye Global Inc is a technology company focused on advanced driver-assistance systems (ADAS) and autonomous driving. Its technologies are designed to help improve road safety and support automated driving through computer vision, artificial intelligence, sensor fusion and mapping.

The company develops and supplies products for automakers and mobility providers, including EyeQ system-on-chips, camera-based driver-assistance features, SuperVision hands-free driving technology, and autonomous driving platforms.