Mobileye Global (NASDAQ:MBLY) Shares Down 3.2% Following Analyst Downgrade

Key Points

• Mobileye Global's stock dropped 3.2% after Mizuho downgraded its price target from $17.00 to $15.00, impacting trading volume significantly.
• In addition to Mizuho, several other analysts have also lowered their price targets on Mobileye Global, which currently has a consensus rating of "Hold" and a price target of $18.59.
• Institutional investors own 13.25% of Mobileye Global's stock, with several hedge funds increasing their stakes during the third quarter.

Mobileye Global Inc. (NASDAQ:MBLY - Get Free Report)'s stock price was down 3.2% during trading on Friday after Mizuho lowered their price target on the stock from $17.00 to $15.00. Mizuho currently has a neutral rating on the stock. Mobileye Global traded as low as $13.84 and last traded at $13.64. Approximately 977,501 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 5,409,580 shares. The stock had previously closed at $14.09.

Several other research analysts have also recently weighed in on the stock. Bank of America reduced their price target on shares of Mobileye Global from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, September 10th. The Goldman Sachs Group reduced their price target on shares of Mobileye Global from $19.00 to $16.00 and set a "neutral" rating for the company in a report on Monday, September 29th. Zacks Research upgraded shares of Mobileye Global from a "hold" rating to a "strong-buy" rating in a report on Friday, October 10th. UBS Group upped their price target on shares of Mobileye Global from $15.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Finally, Canaccord Genuity Group upped their price target on shares of Mobileye Global from $25.00 to $30.00 and gave the company a "buy" rating in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Mobileye Global has a consensus rating of "Hold" and a consensus price target of $18.59.

Institutional Trading of Mobileye Global

A number of hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC lifted its stake in shares of Mobileye Global by 21.7% during the 3rd quarter. SG Americas Securities LLC now owns 140,329 shares of the company's stock worth $1,981,000 after buying an additional 25,008 shares during the last quarter. KLP Kapitalforvaltning AS lifted its stake in shares of Mobileye Global by 49.8% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 31,000 shares of the company's stock worth $438,000 after buying an additional 10,300 shares during the last quarter. CoreCap Advisors LLC lifted its stake in shares of Mobileye Global by 1,337.3% during the 3rd quarter. CoreCap Advisors LLC now owns 5,476 shares of the company's stock worth $77,000 after buying an additional 5,095 shares during the last quarter. Eagle Strategies LLC acquired a new stake in shares of Mobileye Global during the 3rd quarter worth about $919,000. Finally, Taylor Frigon Capital Management LLC lifted its stake in shares of Mobileye Global by 21.0% during the 3rd quarter. Taylor Frigon Capital Management LLC now owns 188,566 shares of the company's stock worth $2,663,000 after buying an additional 32,784 shares during the last quarter. Institutional investors and hedge funds own 13.25% of the company's stock.

Mobileye Global Trading Down 4.0%

The business's 50 day moving average price is $14.35 and its 200-day moving average price is $15.06. The company has a market cap of $11.02 billion, a price-to-earnings ratio of -3.74, a PEG ratio of 8.78 and a beta of 0.52.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. The company had revenue of $506.00 million during the quarter, compared to analysts' expectations of $466.42 million. Mobileye Global had a negative net margin of 153.91% and a positive return on equity of 0.73%. Mobileye Global's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 EPS. Equities research analysts forecast that Mobileye Global Inc. will post 0.01 EPS for the current fiscal year.

Mobileye Global Company Profile

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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