Mobileye Global (NASDAQ:MBLY) Hits New 12-Month Low Following Analyst Downgrade

Mobileye Global Inc. (NASDAQ:MBLY) reached a new 52-week low on Tuesday after Barclays lowered their price target on the stock from $16.00 to $14.00. Barclays currently has an overweight rating on the stock. Mobileye Global traded as low as $6.47 and last traded at $6.56, with a volume of 5964766 shares. The stock had previously closed at $6.73.

Several other analysts have also recently commented on MBLY. Royal Bank Of Canada decreased their target price on Mobileye Global from $14.00 to $13.00 and set a “sector perform” rating for the company in a research report on Friday, January 23rd. Tigress Financial reissued a “buy” rating and set a $25.00 price target on shares of Mobileye Global in a research report on Thursday, January 29th. Wall Street Zen lowered Mobileye Global from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. UBS Group lowered their target price on Mobileye Global from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, January 23rd. Finally, HSBC upgraded Mobileye Global to a “strong-buy” rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Mobileye Global has an average rating of “Hold” and a consensus target price of $15.79.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. MAI Capital Management increased its position in Mobileye Global by 22.2% in the 3rd quarter. MAI Capital Management now owns 4,400 shares of the company’s stock worth $62,000 after purchasing an additional 800 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in shares of Mobileye Global by 6.3% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 16,068 shares of the company’s stock valued at $168,000 after buying an additional 957 shares during the last quarter. Sei Investments Co. grew its stake in shares of Mobileye Global by 2.5% in the 2nd quarter. Sei Investments Co. now owns 45,080 shares of the company’s stock valued at $811,000 after buying an additional 1,090 shares in the last quarter. Cresset Asset Management LLC grew its stake in shares of Mobileye Global by 6.3% in the 3rd quarter. Cresset Asset Management LLC now owns 18,819 shares of the company’s stock valued at $266,000 after buying an additional 1,110 shares in the last quarter. Finally, Country Club Bank increased its holdings in Mobileye Global by 0.8% in the third quarter. Country Club Bank now owns 144,803 shares of the company’s stock worth $2,048,000 after buying an additional 1,188 shares during the last quarter. Hedge funds and other institutional investors own 13.25% of the company’s stock.

Mobileye Global Price Performance

The stock has a market cap of $5.52 billion, a price-to-earnings ratio of -13.39 and a beta of 0.59. The business has a fifty day moving average of $8.61 and a 200 day moving average of $11.13.

Mobileye Global (NASDAQ:MBLY) last posted its earnings results on Thursday, January 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. The firm had revenue of $446.00 million during the quarter, compared to analysts’ expectations of $430.69 million. Mobileye Global had a negative net margin of 20.70% and a positive return on equity of 0.21%. During the same period in the previous year, the company earned $0.13 earnings per share. The company’s revenue was down 9.0% compared to the same quarter last year. On average, analysts expect that Mobileye Global Inc. will post 0.01 EPS for the current year.

About Mobileye Global

Mobileye Global Inc (NASDAQ: MBLY) is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye’s core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.

Founded in 1999 by Prof.