Hsbc Holdings PLC Sells 167,845 Shares of Mobileye Global Inc. $MBLY

Hsbc Holdings PLC reduced its stake in Mobileye Global Inc. (NASDAQ:MBLY) by 75.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,908 shares of the company’s stock after selling 167,845 shares during the period. Hsbc Holdings PLC’s holdings in Mobileye Global were worth $376,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Griffin Asset Management Inc. bought a new position in shares of Mobileye Global in the first quarter worth approximately $102,000. Collaborative Fund Advisors LLC purchased a new position in shares of Mobileye Global in the first quarter worth $352,000. Bogart Wealth LLC raised its holdings in Mobileye Global by 5,000.0% during the 1st quarter. Bogart Wealth LLC now owns 5,100 shares of the company’s stock valued at $35,000 after buying an additional 5,000 shares during the last quarter. Stephens Inc. AR bought a new stake in Mobileye Global during the 1st quarter valued at $86,000. Finally, Private Advisor Group LLC boosted its position in Mobileye Global by 28.1% during the 1st quarter. Private Advisor Group LLC now owns 353,706 shares of the company’s stock valued at $2,430,000 after buying an additional 77,587 shares during the period. Institutional investors own 13.25% of the company’s stock.

Mobileye Global Stock Performance

Mobileye Global stock opened at $7.94 on Friday. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of -1.59, a PEG ratio of 2.71 and a beta of 1.16. The stock’s 50 day simple moving average is $9.19 and its two-hundred day simple moving average is $8.88. Mobileye Global Inc. has a fifty-two week low of $6.47 and a fifty-two week high of $15.81.

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

Mobileye Global declared that its board has initiated a stock buyback plan on Thursday, April 23rd that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to purchase up to 3.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MBLY shares. TD Cowen cut their price target on shares of Mobileye Global from $11.50 to $9.00 and set a “buy” rating on the stock in a report on Friday, July 24th. Jefferies Financial Group assumed coverage on shares of Mobileye Global in a research note on Monday, May 18th. They set an “underperform” rating and a $8.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on Mobileye Global from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, July 24th. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price objective on shares of Mobileye Global in a research report on Friday, July 24th. Finally, Wall Street Zen raised Mobileye Global from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Mobileye Global has an average rating of “Hold” and a consensus target price of $12.64.

Mobileye Global Company Profile

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.