Econ Financial Services Corp Buys New Position in Mobileye Global Inc. (NASDAQ:MBLY)

Econ Financial Services Corp bought a new stake in Mobileye Global Inc. (NASDAQ:MBLY - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 73,236 shares of the company's stock, valued at approximately $1,054,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its position in shares of Mobileye Global by 147.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,237 shares of the company's stock valued at $25,000 after purchasing an additional 737 shares during the period. Global Retirement Partners LLC grew its position in shares of Mobileye Global by 136.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,613 shares of the company's stock valued at $32,000 after purchasing an additional 932 shares during the period. Rhumbline Advisers purchased a new stake in shares of Mobileye Global in the first quarter valued at $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Mobileye Global in the fourth quarter valued at $40,000. Finally, Ancora Advisors LLC purchased a new stake in shares of Mobileye Global in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 13.25% of the company's stock.

Analyst Upgrades and Downgrades

MBLY has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price objective on Mobileye Global from $11.00 to $10.00 and set an "underweight" rating for the company in a research report on Thursday, April 17th. Barclays reaffirmed an "equal weight" rating and issued a $14.00 price objective (down previously from $22.00) on shares of Mobileye Global in a research report on Tuesday, April 15th. Piper Sandler lifted their price objective on Mobileye Global from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. UBS Group lowered their price target on Mobileye Global from $17.00 to $14.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, Mizuho lowered their price target on Mobileye Global from $16.00 to $15.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $18.63.

Insider Buying and Selling at Mobileye Global

In other news, EVP Boaz Ouriel sold 67,493 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $16.09, for a total transaction of $1,085,962.37. Following the completion of the transaction, the executive vice president now directly owns 107,853 shares of the company's stock, valued at approximately $1,735,354.77. This represents a 38.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by insiders.

Mobileye Global Price Performance

Shares of NASDAQ MBLY opened at $17.95 on Wednesday. The business has a 50-day moving average of $15.35 and a 200-day moving average of $16.04. Mobileye Global Inc. has a 1-year low of $10.48 and a 1-year high of $28.73. The company has a market capitalization of $14.58 billion, a price-to-earnings ratio of -4.88, a PEG ratio of 148.23 and a beta of 0.48.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. Mobileye Global had a positive return on equity of 0.54% and a negative net margin of 160.50%. The firm had revenue of $438.00 million for the quarter, compared to analysts' expectations of $434.87 million. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. Mobileye Global's revenue for the quarter was up 83.3% compared to the same quarter last year. Research analysts expect that Mobileye Global Inc. will post 0.01 EPS for the current fiscal year.

About Mobileye Global

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.

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