Mobileye Global (NASDAQ:MBLY) Shares Gap Down - Time to Sell?

Key Points

• Mobileye shares opened lower, falling from a prior close of $7.57 to $7.31 before recovering to about $7.63. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $11.91. Recent target changes ranged from $8 to $18, reflecting significant uncertainty.
• Mobileye beat quarterly earnings and revenue estimates, reporting $0.19 EPS versus $0.06 expected and $508 million in revenue. Two directors also purchased shares, while institutional investors own 13.25% of the company.

Mobileye Global Inc. (NASDAQ:MBLY - Get Free Report) shares gapped down before the market opened on Wednesday. The stock had previously closed at $7.57, but opened at $7.31. Mobileye Global shares last traded at $7.6250, with a volume of 976,026 shares.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Weiss Ratings raised Mobileye Global from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, July 8th. Piper Sandler raised Mobileye Global from a "neutral" rating to an "overweight" rating and increased their price target for the company from $10.00 to $12.00 in a research report on Monday, July 27th. Tigress Financial dropped their price objective on Mobileye Global from $25.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Barclays reaffirmed an "equal weight" rating and set a $9.00 price objective (down from $14.00) on shares of Mobileye Global in a report on Wednesday. Finally, Mizuho lowered their target price on Mobileye Global from $9.00 to $8.00 and set a "neutral" rating on the stock in a research note on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $11.91.

Mobileye Global Stock Down 0.6%

The stock has a 50-day simple moving average of $8.35 and a two-hundred day simple moving average of $8.62. The firm has a market cap of $6.32 billion, a PE ratio of -1.51, a P/E/G ratio of 2.56 and a beta of 1.22.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.13. The firm had revenue of $508.00 million during the quarter, compared to analysts' expectations of $480.51 million. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%.The company's revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.08) EPS. Research analysts expect that Mobileye Global Inc. will post 0.11 earnings per share for the current year.

Insider Buying and Selling at Mobileye Global

In other news, Director Frank Yeary purchased 12,360 shares of the company's stock in a transaction on Thursday, July 30th. The stock was acquired at an average price of $7.98 per share, with a total value of $98,632.80. Following the transaction, the director directly owned 12,360 shares of the company's stock, valued at approximately $98,632.80. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Safroadu Yeboah-Amankwah bought 11,841 shares of the company's stock in a transaction dated Thursday, August 6th. The shares were purchased at an average price of $8.46 per share, with a total value of $100,174.86. Following the completion of the acquisition, the director owned 84,336 shares of the company's stock, valued at $713,482.56. This trade represents a 16.33% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 10.00% of the company's stock.

Institutional Investors Weigh In On Mobileye Global

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Engineers Gate Manager LP grew its stake in Mobileye Global by 140.9% during the fourth quarter. Engineers Gate Manager LP now owns 3,577,407 shares of the company's stock valued at $37,348,000 after acquiring an additional 2,092,250 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Mobileye Global by 24.5% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,585,733 shares of the company's stock worth $24,634,000 after purchasing an additional 705,400 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Mobileye Global during the second quarter valued at approximately $23,423,000. Pacer Advisors Inc. purchased a new position in Mobileye Global during the 4th quarter valued at approximately $15,290,000. Finally, Bank of America Corp DE grew its holdings in Mobileye Global by 5.8% during the 1st quarter. Bank of America Corp DE now owns 2,036,548 shares of the company's stock valued at $13,991,000 after buying an additional 111,215 shares in the last quarter. 13.25% of the stock is owned by institutional investors.

About Mobileye Global

Mobileye Global Inc is a technology company focused on advanced driver-assistance systems (ADAS) and autonomous driving. Its technologies are designed to help improve road safety and support automated driving through computer vision, artificial intelligence, sensor fusion and mapping.

The company develops and supplies products for automakers and mobility providers, including EyeQ system-on-chips, camera-based driver-assistance features, SuperVision hands-free driving technology, and autonomous driving platforms.

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