Mobileye Global (NASDAQ:MBLY) Reaches New 12-Month Low - Here's Why

Key Points

• Mobileye shares hit a new 52-week low, trading as low as $5.03, below the previous close of $5.34.
• The company beat quarterly estimates, reporting EPS of $0.11 versus $0.10 expected and revenue of $492 million versus $476.8 million expected; however, revenue fell 2.4% year over year.
• Analyst views are mixed: MarketBeat reports a consensus Hold rating and $10.43 price target, while recent firms have both upgraded and downgraded the stock.

Shares of Mobileye Global Inc. (NASDAQ:MBLY - Get Free Report) reached a new 52-week low on Thursday. The stock traded as low as $5.03 and last traded at $5.0650, with a volume of 922,505 shares. The stock had previously closed at $5.34.

Wall Street Analysts Forecast Growth

MBLY has been the topic of a number of recent analyst reports. Berenberg Bank raised shares of Mobileye Global from a "hold" rating to a "buy" rating and set a $11.00 price target on the stock in a report on Monday, August 17th. Piper Sandler raised shares of Mobileye Global from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $10.00 to $12.00 in a research note on Monday, July 27th. Morgan Stanley decreased their target price on shares of Mobileye Global from $10.00 to $9.00 and set an "equal weight" rating on the stock in a report on Thursday, October 15th. TD Cowen cut shares of Mobileye Global from a "buy" rating to a "hold" rating and lowered their target price for the stock from $8.00 to $7.00 in a research note on Friday, October 30th. Finally, Royal Bank Of Canada cut shares of Mobileye Global from a "sector perform" rating to an "underperform" rating and decreased their price target for the stock from $7.00 to $5.00 in a report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $10.43.

Mobileye Global Price Performance

The business has a 50 day moving average price of $7.48 and a 200 day moving average price of $8.47. The stock has a market capitalization of $4.17 billion, a PE ratio of -1.00, a PEG ratio of 1.71 and a beta of 1.30.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The company had revenue of $492.00 million for the quarter, compared to the consensus estimate of $476.78 million. Mobileye Global had a positive return on equity of 0.66% and a negative net margin of 201.25%. Mobileye Global's revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 earnings per share. On average, equities analysts expect that Mobileye Global Inc. will post 0.11 earnings per share for the current year.

Hedge Funds Weigh In On Mobileye Global

Institutional investors have recently made changes to their positions in the company. Allworth Financial LP increased its stake in Mobileye Global by 63.6% during the second quarter. Allworth Financial LP now owns 3,947 shares of the company's stock worth $38,000 after purchasing an additional 1,535 shares during the period. Financial Management Professionals Inc. grew its holdings in shares of Mobileye Global by 176.4% in the third quarter. Financial Management Professionals Inc. now owns 4,231 shares of the company's stock valued at $31,000 after purchasing an additional 2,700 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Mobileye Global by 2,098.0% in the third quarter. Parallel Advisors LLC now owns 4,396 shares of the company's stock valued at $32,000 after purchasing an additional 4,196 shares in the last quarter. Bogart Wealth LLC increased its stake in Mobileye Global by 5,000.0% during the 1st quarter. Bogart Wealth LLC now owns 5,100 shares of the company's stock worth $35,000 after buying an additional 5,000 shares during the period. Finally, Nykredit A S acquired a new stake in Mobileye Global during the 2nd quarter worth approximately $77,000. Hedge funds and other institutional investors own 13.25% of the company's stock.

Mobileye Global Company Profile

Mobileye Global Inc NASDAQ: MBLY develops advanced driver-assistance systems and autonomous driving technologies for vehicle manufacturers worldwide. Founded in 1999 and headquartered in Jerusalem, Israel, the company provides computer-vision and artificial-intelligence solutions designed to improve vehicle safety and support automated driving.

Its product portfolio includes EyeQ system-on-chips, camera-based driver-assistance features, and software for functions such as automatic emergency braking, lane-keeping assistance, adaptive cruise control, and traffic-sign recognition.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.