Mobileye Global (NASDAQ:MBLY) Stock Keeps Underperform Rating at Royal Bank Of Canada

Mobileye Global (NASDAQ:MBLY)‘s stock had its “underperform” rating reaffirmed by investment analysts at Royal Bank Of Canada in a research note issued to investors on Wednesday, MarketBeat.com reports. They currently have a $5.00 price target on the stock, down from their prior price target of $7.00. Royal Bank Of Canada‘s price target suggests a potential downside of 28.72% from the stock’s current price.

Several other equities analysts also recently commented on the company. 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. Barclays reiterated an “equal weight” rating and set a $9.00 price target (down from $14.00) on shares of Mobileye Global in a report on Wednesday, September 30th. Mizuho lowered their price target on Mobileye Global from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, July 24th. Citigroup began coverage on Mobileye Global in a report on Friday, October 16th. They set a “buy” rating and a $11.00 price target on the stock. Finally, Berenberg Bank upgraded Mobileye Global from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $11.09.

Mobileye Global Price Performance

MBLY traded down $0.29 during midday trading on Wednesday, hitting $7.02. 2,329,667 shares of the company’s stock traded hands, compared to its average volume of 6,887,643. The company has a market cap of $5.89 billion, a PE ratio of -1.41, a price-to-earnings-growth ratio of 2.39 and a beta of 1.25. The stock’s fifty day simple moving average is $8.03 and its 200-day simple moving average is $8.61. Mobileye Global has a one year low of $6.47 and a one year high of $14.91.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings data 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 negative net margin of 201.49% and a positive return on equity of 0.70%. The firm had revenue of $508.00 million for the quarter, compared to analyst estimates of $480.52 million. During the same quarter last year, the firm earned ($0.08) earnings per share. The company’s revenue for the quarter was up .4% on a year-over-year basis. On average, research analysts expect that Mobileye Global will post 0.11 EPS for the current year.

Insider Activity at Mobileye Global

In related news, Director Frank Yeary purchased 12,360 shares of the stock in a transaction on Thursday, July 30th. The shares were bought at an average price of $7.98 per share, for a total transaction of $98,632.80. Following the completion of the acquisition, the director directly owned 12,360 shares in the company, valued at approximately $98,632.80. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Safroadu Yeboah-Amankwah acquired 11,841 shares of the stock in a transaction dated Thursday, August 6th. The stock was bought at an average price of $8.46 per share, for a total transaction of $100,174.86. Following the purchase, the director owned 84,336 shares of the company’s stock, valued at $713,482.56. The trade was a 16.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Mobileye Global

Several hedge funds and other institutional investors have recently modified their holdings of MBLY. Assenagon Asset Management S.A. acquired a new stake in shares of Mobileye Global in the second quarter worth $23,423,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of Mobileye Global in the third quarter worth $9,074,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in 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 buying an additional 705,400 shares in the last quarter. First Trust Advisors LP boosted its stake in Mobileye Global by 27.7% during the first quarter. First Trust Advisors LP now owns 1,152,499 shares of the company’s stock worth $7,918,000 after buying an additional 249,921 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its stake in Mobileye Global by 977.4% during the first quarter. Y Intercept Hong Kong Ltd now owns 218,016 shares of the company’s stock worth $1,498,000 after buying an additional 197,781 shares in the last quarter. Institutional investors and hedge funds own 13.25% of the company’s stock.

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.