Mobileye Global (NASDAQ:MBLY) Hits New 1-Year Low - Here's Why

Key Points

• Stock hit a new 52-week low: Mobileye shares fell to $7.68 (last $7.71) on Monday with about 1.27 million shares traded, down roughly 2.5% from the prior close.
• Analysts have cut targets and muddled the outlook: Several firms trimmed price targets (e.g., UBS, Wells Fargo, Canaccord), leaving a consensus rating of “Hold” and an average price target of $15.89.
• Mixed quarterly results: Mobileye reported $0.06 EPS (in line) and $446M revenue (beating estimates) but revenue was down 9% year-over-year and the company showed a negative net margin of 20.7%.

Mobileye Global Inc. (NASDAQ:MBLY - Get Free Report)'s share price reached a new 52-week low during trading on Monday . The company traded as low as $7.68 and last traded at $7.71, with a volume of 1270022 shares traded. The stock had previously closed at $8.01.

Wall Street Analysts Forecast Growth

MBLY has been the subject of a number of recent analyst reports. UBS Group cut their price objective on Mobileye Global from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Friday, January 23rd. HSBC downgraded Mobileye Global from a "buy" rating to a "hold" rating and set a $11.00 price target for the company. in a report on Friday, January 23rd. Wells Fargo & Company decreased their price objective on shares of Mobileye Global from $24.00 to $18.00 and set an "overweight" rating on the stock in a report on Friday, January 23rd. Weiss Ratings restated a "sell (e+)" rating on shares of Mobileye Global in a research note on Wednesday, January 28th. Finally, Canaccord Genuity Group reduced their target price on shares of Mobileye Global from $30.00 to $24.00 and set a "buy" rating for the company in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $15.89.

Mobileye Global Stock Down 2.5%

The stock has a fifty day moving average price of $9.75 and a two-hundred day moving average price of $11.88. The company has a market cap of $6.57 billion, a price-to-earnings ratio of -15.94 and a beta of 0.59.

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

Hedge Funds Weigh In On Mobileye Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC grew its holdings in shares of Mobileye Global by 88.3% during the 4th quarter. Hsbc Holdings PLC now owns 222,753 shares of the company's stock worth $2,353,000 after purchasing an additional 104,455 shares in the last quarter. Alpine Global Management LLC bought a new stake in Mobileye Global during the fourth quarter worth about $181,000. Pacer Advisors Inc. bought a new stake in Mobileye Global during the fourth quarter worth about $15,290,000. Virtu Financial LLC acquired a new stake in Mobileye Global during the fourth quarter worth about $895,000. Finally, Vident Advisory LLC increased its holdings in Mobileye Global by 21.9% in the 4th quarter. Vident Advisory LLC now owns 32,632 shares of the company's stock valued at $341,000 after buying an additional 5,873 shares during the period. 13.25% of the stock is owned by institutional investors and hedge funds.

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.

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