Mobileye Global (NASDAQ:MBLY) Shares Gap Down – Time to Sell?

Mobileye Global Inc. (NASDAQ:MBLY) gapped down before the market opened on Wednesday. The stock had previously closed at $7.57, but opened at $7.31. Mobileye Global shares last traded at $7.6250, with a volume of 976,026 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MBLY. JPMorgan Chase & Co. lowered their price objective on shares of Mobileye Global from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, July 24th. Berenberg Bank raised shares of Mobileye Global from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Monday, August 17th. Needham & Company LLC restated a “buy” rating and issued a $13.00 price target on shares of Mobileye Global in a report on Friday, July 24th. Canaccord Genuity Group cut their price objective on shares of Mobileye Global from $17.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, July 24th. Finally, Zacks Research upgraded shares of Mobileye Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Mobileye Global presently has a consensus rating of “Hold” and an average target price of $11.91.

Mobileye Global Price Performance

The stock’s fifty day simple moving average is $8.35 and its 200-day simple moving average is $8.62. The firm has a market cap of $6.32 billion, a PE ratio of -1.51, a PEG ratio of 2.56 and a beta of 1.22.

Mobileye Global (NASDAQ:MBLY) last released its earnings results on Thursday, July 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.13. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%.The firm had revenue of $508.00 million for the quarter, compared to the consensus estimate of $480.51 million. During the same period in the prior year, the firm earned ($0.08) EPS. The firm’s revenue was up .4% on a year-over-year basis. Analysts expect that Mobileye Global Inc. will post 0.11 earnings per share for the current year.

Insider Transactions at Mobileye Global

In other news, Director Safroadu Yeboah-Amankwah acquired 11,841 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were acquired at an average cost of $8.46 per share, with a total value of $100,174.86. Following the completion of the acquisition, the director owned 84,336 shares of the company’s stock, valued at approximately $713,482.56. This trade represents a 16.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frank Yeary acquired 12,360 shares of Mobileye Global stock in a transaction dated Thursday, July 30th. The stock was purchased at an average price of $7.98 per share, with a total value of $98,632.80. Following the completion of the purchase, the director owned 12,360 shares of the company’s stock, valued at approximately $98,632.80. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 10.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Mobileye Global

Several institutional investors and hedge funds have recently bought and sold shares of the business. Allworth Financial LP raised its holdings in Mobileye Global by 63.6% in the 2nd quarter. Allworth Financial LP now owns 3,947 shares of the company’s stock worth $38,000 after purchasing an additional 1,535 shares during the period. Integrated Wealth Concepts LLC lifted its position in shares of Mobileye Global by 11.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 17,421 shares of the company’s stock valued at $169,000 after buying an additional 1,732 shares in the last quarter. Triumph Capital Management grew its stake in Mobileye Global by 7.1% in the 2nd quarter. Triumph Capital Management now owns 30,988 shares of the company’s stock valued at $300,000 after acquiring an additional 2,062 shares during the period. Cetera Investment Advisers increased its holdings in Mobileye Global by 15.3% in the 1st quarter. Cetera Investment Advisers now owns 17,267 shares of the company’s stock worth $119,000 after acquiring an additional 2,286 shares in the last quarter. Finally, State of Wyoming raised its position in Mobileye Global by 16.0% during the fourth quarter. State of Wyoming now owns 27,612 shares of the company’s stock worth $288,000 after acquiring an additional 3,811 shares during the period. 13.25% of the stock is currently owned by institutional investors and hedge funds.

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.