Mobileye Global (NASDAQ:MBLY) Shares Gap Down Following Analyst Downgrade

Mobileye Global Inc. (NASDAQ:MBLY - Get Free Report)'s stock price gapped down prior to trading on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $11.00 to $10.00. The stock had previously closed at $12.94, but opened at $12.50. JPMorgan Chase & Co. currently has an underweight rating on the stock. Mobileye Global shares last traded at $12.64, with a volume of 234,931 shares.

Other analysts have also issued research reports about the company. Oppenheimer assumed coverage on Mobileye Global in a report on Wednesday, January 15th. They set an "outperform" rating and a $28.00 price target on the stock. Mizuho reduced their price objective on shares of Mobileye Global from $17.00 to $16.00 and set a "neutral" rating on the stock in a research report on Friday, January 31st. Needham & Company LLC restated a "buy" rating and set a $20.00 target price on shares of Mobileye Global in a research report on Wednesday, March 26th. Loop Capital boosted their price objective on Mobileye Global from $20.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. Finally, UBS Group decreased their target price on Mobileye Global from $17.00 to $14.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Mobileye Global has a consensus rating of "Hold" and a consensus price target of $20.55.

Institutional Investors Weigh In On Mobileye Global

Hedge funds and other institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new stake in shares of Mobileye Global during the 1st quarter valued at $2,207,000. Tobam raised its stake in Mobileye Global by 632.1% in the first quarter. Tobam now owns 26,640 shares of the company's stock valued at $383,000 after buying an additional 23,001 shares during the last quarter. Polianta Ltd boosted its holdings in Mobileye Global by 20.2% in the first quarter. Polianta Ltd now owns 78,600 shares of the company's stock worth $1,131,000 after acquiring an additional 13,200 shares in the last quarter. RFG Advisory LLC purchased a new stake in shares of Mobileye Global during the first quarter worth about $252,000. Finally, Green Alpha Advisors LLC increased its holdings in shares of Mobileye Global by 37.4% during the first quarter. Green Alpha Advisors LLC now owns 37,989 shares of the company's stock valued at $547,000 after acquiring an additional 10,338 shares in the last quarter. Hedge funds and other institutional investors own 13.25% of the company's stock.

Mobileye Global Trading Down 3.3 %

The company's 50-day moving average is $15.02 and its 200 day moving average is $15.85. The stock has a market capitalization of $9.65 billion, a PE ratio of -3.12, a price-to-earnings-growth ratio of 69.54 and a beta of 0.39.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.08). Mobileye Global had a negative return on equity of 0.34% and a negative net margin of 186.82%. Sell-side analysts forecast that Mobileye Global Inc. will post 0.01 EPS for the current fiscal year.

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.