Mobileye Global (NASDAQ:MBLY) Hits New 52-Week Low – Time to Sell?

Mobileye Global Inc. (NASDAQ:MBLY) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $8.11 and last traded at $8.4330, with a volume of 637305 shares changing hands. The stock had previously closed at $8.46.

Wall Street Analyst Weigh In

A number of analysts have commented on MBLY shares. Zacks Research downgraded Mobileye Global from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. Needham & Company LLC cut their target price on Mobileye Global from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, January 23rd. Piper Sandler decreased their price target on shares of Mobileye Global from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Tigress Financial reissued a “buy” rating and issued a $25.00 price target on shares of Mobileye Global in a report on Thursday, January 29th. Finally, Canaccord Genuity Group reduced their price objective on shares of Mobileye Global from $30.00 to $24.00 and set a “buy” rating for the company in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $15.89.

Mobileye Global Stock Down 2.0%

The stock has a fifty day simple moving average of $9.88 and a 200-day simple moving average of $12.00. The company has a market capitalization of $6.87 billion, a P/E ratio of -16.65 and a beta of 0.59.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings results on Thursday, January 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $446.00 million during the quarter, compared to the consensus estimate of $430.69 million. Mobileye Global had a negative net margin of 20.70% and a positive return on equity of 0.21%. The firm’s quarterly revenue was down 9.0% on a year-over-year basis. During the same period last year, the firm posted $0.13 EPS. Analysts predict that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mobileye Global

Institutional investors have recently bought and sold shares of the business. Intel Corp bought a new stake in shares of Mobileye Global during the third quarter worth $706,000,000. Burkehill Global Management LP acquired a new position in Mobileye Global during the 3rd quarter worth about $42,360,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Mobileye Global during the 3rd quarter worth about $40,670,000. DNB Asset Management AS acquired a new stake in Mobileye Global in the 3rd quarter valued at about $40,212,000. Finally, Two Sigma Investments LP raised its stake in shares of Mobileye Global by 131.9% in the third quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company’s stock worth $61,898,000 after acquiring an additional 2,493,181 shares during the last quarter. Institutional investors own 13.25% of the company’s stock.

About Mobileye Global

Mobileye Global Inc (NASDAQ: MBLY) is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye’s core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.

Founded in 1999 by Prof.