Mobileye Global (NASDAQ:MBLY) Stock Price Down 3.5% Following Analyst Downgrade

Shares of Mobileye Global Inc. (NASDAQ:MBLY) fell 3.5% during trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $11.00 to $10.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Mobileye Global traded as low as $11.92 and last traded at $11.87. 234,929 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 5,393,245 shares. The stock had previously closed at $12.30.

Several other brokerages have also weighed in on MBLY. Loop Capital increased their target price on shares of Mobileye Global from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. UBS Group cut their target price on Mobileye Global from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Mizuho lowered their price target on Mobileye Global from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Piper Sandler raised their target price on Mobileye Global from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, March 20th. Finally, Barclays restated an “equal weight” rating and set a $14.00 price target (down previously from $22.00) on shares of Mobileye Global in a report on Tuesday. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.55.

Institutional Trading of Mobileye Global

A number of large investors have recently made changes to their positions in the stock. Tobam grew its holdings in shares of Mobileye Global by 632.1% during the first quarter. Tobam now owns 26,640 shares of the company’s stock worth $383,000 after buying an additional 23,001 shares in the last quarter. Polianta Ltd grew its stake in Mobileye Global by 20.2% in the 1st quarter. Polianta Ltd now owns 78,600 shares of the company’s stock worth $1,131,000 after acquiring an additional 13,200 shares during the period. RFG Advisory LLC acquired a new position in Mobileye Global in the 1st quarter valued at $252,000. Green Alpha Advisors LLC boosted its holdings in shares of Mobileye Global by 37.4% during the first quarter. Green Alpha Advisors LLC now owns 37,989 shares of the company’s stock worth $547,000 after purchasing an additional 10,338 shares during the last quarter. Finally, Rhumbline Advisers purchased a new position in Mobileye Global during the first quarter worth about $27,000. Institutional investors and hedge funds own 13.25% of the company’s stock.

Mobileye Global Stock Performance

The company has a market cap of $9.59 billion, a PE ratio of -3.11, a PEG ratio of 69.54 and a beta of 0.39. The firm has a fifty day simple moving average of $15.25 and a 200 day simple moving average of $15.86.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.08). Mobileye Global had a negative return on equity of 0.34% and a negative net margin of 186.82%. As a group, equities 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.