Mobileye Global (NASDAQ:MBLY) Shares Down 4.1% - What's Next?

Mobileye Global Inc. (NASDAQ:MBLY - Get Free Report) dropped 4.1% during mid-day trading on Wednesday . The stock traded as low as $18.02 and last traded at $17.87. Approximately 5,722,117 shares were traded during mid-day trading, an increase of 5% from the average daily volume of 5,460,831 shares. The stock had previously closed at $18.64.

Analyst Upgrades and Downgrades

MBLY has been the topic of several analyst reports. Barclays reiterated an "equal weight" rating and issued a $14.00 target price (down previously from $22.00) on shares of Mobileye Global in a research note on Tuesday, April 15th. BNP Paribas upgraded shares of Mobileye Global from an "underperform" rating to a "neutral" rating and set a $11.00 price objective on the stock in a research report on Wednesday, April 23rd. Needham & Company LLC lowered their price objective on shares of Mobileye Global from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Piper Sandler increased their price objective on shares of Mobileye Global from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. Finally, TD Cowen increased their price objective on shares of Mobileye Global from $15.00 to $18.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $19.05.

Mobileye Global Stock Down 2.6%

The stock's 50 day moving average price is $16.45 and its 200-day moving average price is $16.10. The stock has a market capitalization of $13.70 billion, a PE ratio of -4.59, a PEG ratio of 168.27 and a beta of 0.54.

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, hitting analysts' consensus estimates of $0.08. The firm had revenue of $438.00 million during the quarter, compared to analysts' expectations of $434.87 million. Mobileye Global had a negative net margin of 160.50% and a positive return on equity of 0.54%. The company's revenue for the quarter was up 83.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.07) earnings per share. On average, analysts forecast that Mobileye Global Inc. will post 0.01 earnings per share for the current year.

Insider Activity

In other news, EVP Boaz Ouriel sold 67,493 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $16.09, for a total value of $1,085,962.37. Following the completion of the sale, the executive vice president directly owned 107,853 shares of the company's stock, valued at $1,735,354.77. This represents a 38.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.80% of the stock is currently owned by company insiders.

Institutional Trading of Mobileye Global

A number of hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its stake in Mobileye Global by 4.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 14,211,880 shares of the company's stock valued at $283,101,000 after acquiring an additional 621,062 shares in the last quarter. Norges Bank purchased a new position in Mobileye Global during the fourth quarter valued at $95,937,000. DAVENPORT & Co LLC grew its stake in Mobileye Global by 7.6% during the first quarter. DAVENPORT & Co LLC now owns 2,369,612 shares of the company's stock valued at $34,111,000 after acquiring an additional 167,333 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Mobileye Global by 32.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,002,257 shares of the company's stock valued at $28,822,000 after acquiring an additional 493,281 shares in the last quarter. Finally, Primecap Management Co. CA grew its stake in Mobileye Global by 9.0% during the first quarter. Primecap Management Co. CA now owns 1,966,200 shares of the company's stock valued at $28,303,000 after acquiring an additional 161,800 shares in the last quarter. 13.25% of the stock is owned by hedge funds and other institutional investors.

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.