Mobileye Global (NASDAQ:MBLY) Stock Jumps 4.3% – Here’s What Happened

Mobileye Global Inc. (NASDAQ:MBLY) rose 4.3% on Wednesday. The stock traded as high as $7.30 and last traded at $7.3240. Approximately 1,561,291 shares changed hands during 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

Several analysts have recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Mobileye Global in a research note on Friday, October 2nd. Berenberg Bank raised Mobileye Global from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Monday, August 17th. Mizuho cut 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. Canaccord Genuity Group cut their price target on Mobileye Global from $17.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, July 24th. Finally, TD Cowen reduced their price objective on Mobileye Global from $11.50 to $9.00 and set a “buy” rating for the company in a research note on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $11.41.

Mobileye Global Stock Up 1.4%

The company has a market capitalization of $5.98 billion, a P/E ratio of -1.43, a P/E/G ratio of 2.25 and a beta of 1.25. The firm’s 50-day moving average price is $8.17 and its 200 day moving average price is $8.59.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly 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. The business had revenue of $508.00 million for the quarter, compared to analysts’ expectations of $480.51 million. Mobileye Global had a negative net margin of 201.49% and a positive return on equity of 0.70%. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.08) EPS. As a group, equities research analysts expect that Mobileye Global Inc. will post 0.11 EPS for the current year.

Insider Buying and Selling

In related news, Director Safroadu Yeboah-Amankwah purchased 11,841 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average price of $8.46 per share, for a total transaction of $100,174.86. Following the completion of the acquisition, the director owned 84,336 shares of the company’s stock, valued at $713,482.56. This represents a 16.33% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank D. Yeary purchased 12,360 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was bought at an average cost of $7.98 per share, with a total value of $98,632.80. Following the completion of the transaction, the director directly owned 12,360 shares in the company, valued at $98,632.80. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. 10.00% of the stock is owned by company insiders.

Institutional Trading of Mobileye Global

Several institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP raised its holdings in shares of Mobileye Global by 140.9% in the fourth quarter. Engineers Gate Manager LP now owns 3,577,407 shares of the company’s stock valued at $37,348,000 after purchasing an additional 2,092,250 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings 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 purchasing an additional 705,400 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Mobileye Global in the 2nd quarter worth about $23,423,000. Pacer Advisors Inc. bought a new stake in Mobileye Global in the 4th quarter worth about $15,290,000. Finally, Bank of America Corp DE increased its stake in 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 during the last quarter. 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.