Mobileye Global (NASDAQ:MBLY) Reaches New 12-Month Low – What’s Next?

Mobileye Global Inc. (NASDAQ:MBLY) shares reached a new 52-week low during mid-day trading on Saturday. The stock traded as low as $6.40 and last traded at $6.54, with a volume of 13,247,757 shares traded. The stock had previously closed at $6.95.

Mobileye Global News Summary

Here are the key news stories impacting Mobileye Global this week:

• Positive Sentiment: Mobileye’s recent safety certification supports its long-term competitive position in advanced driver-assistance and autonomous-driving technology. However, analysts argue that the certification may already be reflected in the stock’s valuation. Mobileye Stock Looks Priced At A Premium Despite Safety Certification
• Positive Sentiment: One earnings-preview analysis remains constructive on Mobileye’s long-term prospects, citing a depressed valuation and potential upside if the company can overcome near-term sales and margin pressure. Mobileye A Worthwhile Bet At This Price
• Neutral Sentiment: Mobileye is scheduled to report earnings next week. Wall Street expects earnings growth, but analysts see limited evidence of the combination of earnings and revenue trends typically associated with a likely beat. Mobileye Reports Next Week
• Negative Sentiment: Zacks Research downgraded Mobileye from “strong buy” to “hold,” while TD Cowen cut its price target. The actions indicate reduced confidence in near-term upside and contributed to the stock’s gap lower. Mobileye Shares Gap Down on Analyst Downgrade Mobileye Stock Gets Price Target Cut from TD Cowen
• Negative Sentiment: Analysts remain divided over Mobileye’s growth outlook, with concerns that competitive pressure could drive a 5%–6% year-over-year revenue decline and further gross-margin contraction in the near term. Mobileye Stock Gets Fair Value Trim
• Negative Sentiment: Mobileye’s decline contrasted with gains in BlackBerry, suggesting investors may currently favor certain automotive-software opportunities over Mobileye’s chip and ADAS exposure. Mobileye Sinks While BlackBerry Rises

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MBLY shares. JPMorgan Chase & Co. lowered their price objective on Mobileye Global from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, July 24th. Berenberg Bank upgraded shares of Mobileye Global from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Monday, August 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 target price on shares of Mobileye Global in a research note on Friday, July 24th. Tigress Financial lowered their price target on shares of Mobileye Global from $25.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, Barclays reissued an “equal weight” rating and set a $9.00 price target (down from $14.00) on shares of Mobileye Global in a research report on Wednesday, September 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.08.

Mobileye Global Trading Down 5.9%

The stock has a market cap of $5.49 billion, a PE ratio of -1.31, a P/E/G ratio of 2.25 and a beta of 1.25. The business has a fifty day simple moving average of $7.91 and a two-hundred day simple moving average of $8.59.

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

Insider Transactions at Mobileye Global

In other Mobileye Global news, Director Safroadu Yeboah-Amankwah acquired 11,841 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were acquired at an average price of $8.46 per share, for a total transaction of $100,174.86. Following the completion of the acquisition, the director owned 84,336 shares in the company, valued at $713,482.56. This trade represents a 16.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank D. Yeary acquired 12,360 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was acquired at an average price of $7.98 per share, for a total transaction of $98,632.80. Following the acquisition, the director owned 12,360 shares of the company’s stock, valued at approximately $98,632.80. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 10.00% of the company’s stock.

Institutional Trading of Mobileye Global

Hedge funds have recently made changes to their positions in the stock. Allworth Financial LP lifted its position in shares of Mobileye Global by 63.6% during 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 last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Mobileye Global by 11.0% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 17,421 shares of the company’s stock valued at $169,000 after acquiring an additional 1,732 shares during the last quarter. Triumph Capital Management raised its position in shares of Mobileye Global by 7.1% during the 2nd quarter. Triumph Capital Management now owns 30,988 shares of the company’s stock worth $300,000 after acquiring an additional 2,062 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Mobileye Global by 15.3% during the 1st quarter. Cetera Investment Advisers now owns 17,267 shares of the company’s stock worth $119,000 after acquiring an additional 2,286 shares in the last quarter. Finally, Financial Management Professionals Inc. lifted its stake in Mobileye Global by 176.4% during the third quarter. Financial Management Professionals Inc. now owns 4,231 shares of the company’s stock worth $31,000 after purchasing an additional 2,700 shares during the last quarter. 13.25% of the stock is owned by institutional investors.

About Mobileye Global

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.