Mobileye Global (NASDAQ:MBLY) Trading Down 3.5% Following Analyst Downgrade

Mobileye Global Inc. (NASDAQ:MBLY - Get Free Report) dropped 3.5% during mid-day trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $11.00 to $10.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Mobileye Global traded as low as $11.92 and last traded at $11.87. Approximately 234,929 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 5,393,245 shares. The stock had previously closed at $12.30.

Several other equities analysts have also recently commented on the stock. The Goldman Sachs Group lowered their price target on shares of Mobileye Global from $20.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Barclays reaffirmed an "equal weight" rating and set a $14.00 price objective (down previously from $22.00) on shares of Mobileye Global in a research report on Tuesday, April 15th. Mizuho cut their price target on shares of Mobileye Global from $17.00 to $16.00 and set a "neutral" rating on the stock in a report on Friday, January 31st. Loop Capital raised their target price 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 lowered their price objective on Mobileye Global from $17.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $20.55.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust boosted its stake in Mobileye Global by 147.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,237 shares of the company's stock valued at $25,000 after buying an additional 737 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Mobileye Global by 580.0% in the fourth quarter. Versant Capital Management Inc now owns 1,326 shares of the company's stock valued at $26,000 after acquiring an additional 1,131 shares during the last quarter. Rhumbline Advisers acquired a new position in shares of Mobileye Global in the 1st quarter worth approximately $27,000. FNY Investment Advisers LLC bought a new stake in Mobileye Global during the 4th quarter worth approximately $30,000. Finally, Global Retirement Partners LLC increased its holdings in Mobileye Global by 136.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,613 shares of the company's stock valued at $32,000 after purchasing an additional 932 shares in the last quarter. Institutional investors own 13.25% of the company's stock.

Mobileye Global Stock Performance

The stock has a market cap of $9.73 billion, a P/E ratio of -3.15, a P/E/G ratio of 69.54 and a beta of 0.39. The company has a 50-day simple moving average of $14.92 and a 200-day simple moving average of $15.87.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, sell-side analysts expect that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal year.

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.