Mobileye Global (NASDAQ:MBLY) Shares Gap Down – Should You Sell?

Mobileye Global Inc. (NASDAQ:MBLY)’s share price gapped down prior to trading on Thursday. The stock had previously closed at $7.06, but opened at $6.50. Mobileye Global shares last traded at $6.6350, with a volume of 1,631,885 shares traded.

Analyst Ratings Changes

Several brokerages have recently weighed in on MBLY. Citigroup assumed coverage on Mobileye Global in a report on Friday, October 16th. They set a “buy” rating and a $11.00 price target for the company. Berenberg Bank upgraded shares of Mobileye Global from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Monday, August 17th. Canaccord Genuity Group cut their price objective on Mobileye Global from $17.00 to $12.00 and set a “buy” rating for the company in a report on Friday, July 24th. Needham & Company LLC reiterated a “buy” rating and set a $13.00 price objective on shares of Mobileye Global in a research report on Friday, July 24th. Finally, Zacks Research downgraded Mobileye Global from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $11.08.

Mobileye Global Price Performance

The stock has a market cap of $5.52 billion, a P/E ratio of -1.32, a price-to-earnings-growth ratio of 2.12 and a beta of 1.25. The stock’s 50-day moving average is $7.79 and its two-hundred day moving average is $8.60.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $492.00 million for the quarter, compared to the consensus estimate of $476.78 million. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS. On average, analysts anticipate that Mobileye Global Inc. will post 0.11 EPS for the current fiscal year.

Insider Buying and Selling at Mobileye Global

In other Mobileye Global news, Director Safroadu Yeboah-Amankwah purchased 11,841 shares of Mobileye Global stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average price of $8.46 per share, for a total transaction of $100,174.86. Following the completion of the transaction, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Mobileye Global

Several large investors have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. lifted its position in Mobileye Global by 176.4% in the third quarter. Financial Management Professionals Inc. now owns 4,231 shares of the company’s stock worth $31,000 after buying an additional 2,700 shares during the last quarter. Bogart Wealth LLC grew 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 purchasing an additional 5,000 shares during the last quarter. Allworth Financial LP raised its position 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. PNC Financial Services Group Inc. lifted its stake in Mobileye Global by 204.9% in the first quarter. PNC Financial Services Group Inc. now owns 8,686 shares of the company’s stock worth $60,000 after purchasing an additional 5,837 shares during the last quarter. Finally, Nykredit A S purchased a new position in shares of Mobileye Global during the second quarter valued at approximately $77,000. 13.25% of the stock is owned by institutional investors.

Mobileye Global Company Profile

Mobileye Global Inc (NASDAQ:MBLY) develops advanced driver-assistance systems and autonomous driving technologies for vehicle manufacturers worldwide. Founded in 1999 and headquartered in Jerusalem, Israel, the company provides computer-vision and artificial-intelligence solutions designed to improve vehicle safety and support automated driving.

Its product portfolio includes EyeQ system-on-chips, camera-based driver-assistance features, and software for functions such as automatic emergency braking, lane-keeping assistance, adaptive cruise control, and traffic-sign recognition.