Mobileye Global (NASDAQ:MBLY) Reaches New 1-Year Low – Should You Sell?

Mobileye Global Inc. (NASDAQ:MBLY) hit a new 52-week low during trading on Thursday . The company traded as low as $7.41 and last traded at $7.6260, with a volume of 81558 shares traded. The stock had previously closed at $7.62.

Wall Street Analyst Weigh In

MBLY has been the topic of a number of recent research reports. Piper Sandler lowered their price objective on Mobileye Global from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Wolfe Research downgraded Mobileye Global from an “outperform” rating to a “peer perform” rating in a report on Monday, January 12th. JPMorgan Chase & Co. raised shares of Mobileye Global from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $12.00 to $13.00 in a research note on Tuesday, January 6th. Arete Research downgraded Mobileye Global from a “buy” rating to a “neutral” rating and set a $15.70 target price on the stock. in a research report on Tuesday, January 27th. Finally, Canaccord Genuity Group reduced their price objective on Mobileye Global from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $15.89.

Mobileye Global Stock Performance

The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of -15.72 and a beta of 0.59. The company’s fifty day simple moving average is $9.22 and its two-hundred day simple moving average is $11.55.

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

Institutional Investors Weigh In On Mobileye Global

A number of institutional investors have recently bought and sold shares of the business. Intel Corp acquired a new position in shares of Mobileye Global in the 3rd quarter valued at about $706,000,000. Two Sigma Investments LP boosted its holdings in shares of Mobileye Global by 131.9% during the third quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company’s stock worth $61,898,000 after purchasing an additional 2,493,181 shares during the period. Engineers Gate Manager LP grew its position in Mobileye Global by 140.9% during 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 in the last quarter. DNB Asset Management AS increased its stake in Mobileye Global by 23.1% in the 4th quarter. DNB Asset Management AS now owns 3,506,480 shares of the company’s stock valued at $36,608,000 after buying an additional 658,585 shares during the period. Finally, Vanguard Group Inc. increased its stake in Mobileye Global by 65.5% in the 3rd quarter. Vanguard Group Inc. now owns 3,065,586 shares of the company’s stock valued at $43,286,000 after buying an additional 1,213,448 shares during the period. 13.25% of the stock is currently owned by institutional investors and hedge funds.

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.