Mobileye Global (NASDAQ:MBLY) Shares Up 9.2% – Should You Buy?

Mobileye Global Inc. (NASDAQ:MBLY)’s stock price rose 9.2% during mid-day trading on Wednesday . The company traded as high as $7.56 and last traded at $7.5050. Approximately 6,483,954 shares changed hands during trading, a decline of 23% from the average daily volume of 8,450,166 shares. The stock had previously closed at $6.87.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Needham & Company LLC cut their price target on shares of Mobileye Global from $18.00 to $16.00 and set a “buy” rating for the company in a report on Friday, January 23rd. Morgan Stanley dropped their target price on shares of Mobileye Global from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. HSBC raised shares of Mobileye Global to a “strong-buy” rating in a research note on Friday, January 23rd. Zacks Research upgraded shares of Mobileye Global from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Finally, Barclays decreased their price target on shares of Mobileye Global from $16.00 to $14.00 and set an “overweight” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Mobileye Global has a consensus rating of “Hold” and an average target price of $15.48.

Mobileye Global Trading Up 0.8%

The business has a fifty day simple moving average of $8.40 and a two-hundred day simple moving average of $11.03. The company has a market cap of $6.27 billion, a PE ratio of -15.20 and a beta of 0.75.

Mobileye Global (NASDAQ:MBLY) last released its earnings results on Thursday, January 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $446.00 million during the quarter, compared to analyst estimates of $430.69 million. Mobileye Global had a negative net margin of 20.70% and a positive return on equity of 0.21%. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.13 earnings per share. Equities analysts expect that Mobileye Global Inc. will post 0.01 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Mobileye Global in the second quarter valued at approximately $31,000. IFP Advisors Inc boosted its stake in Mobileye Global by 465.7% during the third quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock worth $26,000 after buying an additional 1,495 shares during the last quarter. Rhumbline Advisers purchased a new stake in Mobileye Global in the 1st quarter valued at $27,000. Financial Management Professionals Inc. purchased a new stake in Mobileye Global in the 4th quarter valued at $32,000. Finally, Leonteq Securities AG acquired a new stake in shares of Mobileye Global in the 4th quarter worth $33,000. 13.25% of the stock is owned by hedge funds and other institutional investors.

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.