Mobileye Global (NASDAQ:MBLY) Shares Down 4.1% - Here's What Happened

Mobileye Global Inc. (NASDAQ:MBLY - Get Free Report) shares were down 4.1% during 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 trading, an increase of 5% from the average daily volume of 5,460,831 shares. The stock had previously closed at $18.64.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MBLY shares. Barclays reiterated an "equal weight" rating and set a $14.00 price objective (down previously from $22.00) on shares of Mobileye Global in a report on Tuesday, April 15th. Mizuho increased their price objective on Mobileye Global from $15.00 to $18.00 and gave the company a "neutral" rating in a report on Tuesday. UBS Group decreased their price objective on Mobileye Global from $17.00 to $14.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. decreased their price objective on Mobileye Global from $11.00 to $10.00 and set an "underweight" rating for the company in a report on Thursday, April 17th. Finally, Robert W. Baird raised their target price on Mobileye Global from $19.00 to $23.00 and gave the stock an "outperform" rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $19.50.

Mobileye Global Trading Down 3.4%

The stock has a market capitalization of $13.08 billion, a price-to-earnings ratio of -4.38, a PEG ratio of 93.26 and a beta of 0.54. The stock has a 50-day moving average price of $16.49 and a 200 day moving average price of $16.09.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting 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 company had revenue of $438.00 million for the quarter, compared to analysts' expectations of $434.87 million. During the same period in the previous year, the firm posted ($0.07) EPS. Mobileye Global's revenue was up 83.3% compared to the same quarter last year. Equities research analysts anticipate that Mobileye Global Inc. will post 0.01 earnings per share for the current year.

Insiders Place Their Bets

In other Mobileye Global news, EVP Boaz Ouriel sold 67,493 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 107,853 shares of the company's stock, valued at $1,735,354.77. This trade represents a 38.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company lifted its stake in Mobileye Global by 4.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 14,211,880 shares of the company's stock worth $283,101,000 after purchasing an additional 621,062 shares in the last quarter. Norges Bank purchased a new position in Mobileye Global in the 4th quarter worth approximately $95,937,000. DAVENPORT & Co LLC raised its position in shares of Mobileye Global by 7.6% during the 1st quarter. DAVENPORT & Co LLC now owns 2,369,612 shares of the company's stock valued at $34,111,000 after buying an additional 167,333 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Mobileye Global by 32.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,002,257 shares of the company's stock valued at $28,822,000 after buying an additional 493,281 shares during the period. Finally, Primecap Management Co. CA raised its position in shares of Mobileye Global by 9.0% during the 1st quarter. Primecap Management Co. CA now owns 1,966,200 shares of the company's stock valued at $28,303,000 after buying an additional 161,800 shares during the period. 13.25% of the stock is owned by hedge funds and other institutional investors.

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.