Mobileye Global (NASDAQ:MBLY) Trading Down 11.8% After Analyst Downgrade

Mobileye Global Inc. (NASDAQ:MBLY) shares were down 11.8% during trading on Thursday after UBS Group lowered their price target on the stock from $17.00 to $14.00. UBS Group currently has a neutral rating on the stock. Mobileye Global traded as low as $13.08 and last traded at $13.36. Approximately 1,803,361 shares were traded during trading, a decline of 66% from the average daily volume of 5,358,439 shares. The stock had previously closed at $15.14.

A number of other equities research analysts have also recently commented on MBLY. Loop Capital lifted their price target on shares of Mobileye Global from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Mobileye Global in a report on Wednesday, March 26th. Oppenheimer began coverage on shares of Mobileye Global in a report on Wednesday, January 15th. They set an “outperform” rating and a $28.00 target price on the stock. The Goldman Sachs Group cut their price target on Mobileye Global from $20.00 to $17.00 and set a “buy” rating for the company in a report on Thursday. Finally, Piper Sandler raised their target price on Mobileye Global from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $21.95.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MBLY. Parkside Financial Bank & Trust increased its holdings in shares of Mobileye Global by 147.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,237 shares of the company’s stock worth $25,000 after buying an additional 737 shares during the period. Versant Capital Management Inc increased its stake in Mobileye Global by 580.0% in the 4th quarter. Versant Capital Management Inc now owns 1,326 shares of the company’s stock worth $26,000 after purchasing an additional 1,131 shares during the period. Rhumbline Advisers bought a new stake in Mobileye Global in the first quarter valued at approximately $27,000. FNY Investment Advisers LLC purchased a new stake in shares of Mobileye Global during the fourth quarter valued at approximately $30,000. Finally, Quarry LP bought a new position in shares of Mobileye Global in the third quarter worth approximately $31,000. 13.25% of the stock is owned by hedge funds and other institutional investors.

Mobileye Global Price Performance

The firm’s 50 day moving average is $15.47 and its 200 day moving average is $15.90. The company has a market capitalization of $10.50 billion, a PE ratio of -3.39, a P/E/G ratio of 69.54 and a beta of 0.39.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.08). Mobileye Global had a negative net margin of 186.82% and a negative return on equity of 0.34%. As a group, analysts predict that Mobileye Global Inc. will post 0.01 EPS for the current fiscal year.

Mobileye Global Company Profile

Mobileye Global Inc develops and deploys advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions worldwide. The company operates through Mobileye and Other segments. It offers Driver Assist comprising ADAS and autonomous vehicle solutions that covers safety features, such as real-time detection of road users, geometry, semantics, and markings to provide safety alerts and emergency interventions; Cloud-Enhanced Driver Assist, a solution for drivers with interpretations of a scene in real-time; Mobileye SuperVision Lite, a navigation and assisted driving solution; and Mobileye SuperVision, an operational point-to-point assisted driving navigation solution on various road types and includes cloud-based enhancements, such as road experience management.