Arete Research Downgrades Mobileye Global (NASDAQ:MBLY) to Neutral

Mobileye Global (NASDAQ:MBLY) was downgraded by equities research analysts at Arete Research from a “buy” rating to a “neutral” rating in a research report issued on Tuesday, Marketbeat reports. They currently have a $15.70 price target on the stock. Arete Research’s price target would indicate a potential upside of 54.68% from the stock’s current price.

A number of other equities analysts also recently weighed in on the stock. Morgan Stanley cut their price target on shares of Mobileye Global from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Friday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mobileye Global in a research report on Friday, October 31st. TD Cowen lowered their price target on Mobileye Global from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Wells Fargo & Company dropped their price target on Mobileye Global from $24.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Royal Bank Of Canada reduced their price objective on Mobileye Global from $14.00 to $13.00 and set a “sector perform” rating on the stock in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $15.89.

Mobileye Global Stock Performance

Shares of NASDAQ MBLY opened at $10.15 on Tuesday. The firm has a market cap of $8.26 billion, a P/E ratio of -20.71, a price-to-earnings-growth ratio of 3.42 and a beta of 0.57. Mobileye Global has a 1 year low of $9.75 and a 1 year high of $20.18. The firm’s 50 day moving average price is $10.99 and its 200 day moving average price is $13.08.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data on Thursday, January 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The business had revenue of $446.00 million for the quarter, compared to analysts’ expectations of $430.69 million. Mobileye Global had a positive return on equity of 0.21% and a negative net margin of 20.70%.The business’s revenue was down 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.13 earnings per share. As a group, equities analysts predict that Mobileye Global will post 0.01 EPS for the current year.

Institutional Trading of Mobileye Global

A number of hedge funds have recently made changes to their positions in MBLY. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Mobileye Global in the 2nd quarter worth about $31,000. IFP Advisors Inc raised its stake in Mobileye Global by 465.7% during the third quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock valued at $26,000 after buying an additional 1,495 shares in the last quarter. Rhumbline Advisers bought a new position in Mobileye Global during the 1st quarter worth approximately $27,000. Brown Brothers Harriman & Co. raised its position in shares of Mobileye Global by 8,500.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,182 shares of the company’s stock valued at $45,000 after acquiring an additional 3,145 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Mobileye Global by 464.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,288 shares of the company’s stock valued at $59,000 after purchasing an additional 2,705 shares during the last quarter. Hedge funds and other institutional investors own 13.25% of the company’s stock.

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.