Mobileye Global (NASDAQ:MBLY) Trading Down 5.6% – Time to Sell?

Mobileye Global Inc. (NASDAQ:MBLY) dropped 5.6% on Tuesday . The company traded as low as $13.77 and last traded at $13.59. Approximately 597,727 shares changed hands during trading, a decline of 89% from the average daily volume of 5,269,976 shares. The stock had previously closed at $14.40.

Analyst Ratings Changes

Several research firms have recently weighed in on MBLY. Piper Sandler upped their price objective on Mobileye Global from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. Barclays upped their price target on Mobileye Global from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Bank of America raised Mobileye Global from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $12.00 to $19.00 in a report on Monday, February 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 target price on shares of Mobileye Global in a report on Wednesday, March 26th. Finally, Loop Capital lifted their price target on shares of Mobileye Global from $20.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $22.24.

Mobileye Global Trading Up 1.0 %

The firm’s 50 day moving average price is $16.03 and its 200-day moving average price is $15.82. The company has a market cap of $11.80 billion, a P/E ratio of -3.82, a price-to-earnings-growth ratio of 69.54 and a beta of 0.29.

Mobileye Global (NASDAQ:MBLY) last released its 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%. Analysts predict that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mobileye Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in shares of Mobileye Global by 168.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,526,234 shares of the company’s stock valued at $20,909,000 after acquiring an additional 957,565 shares during the period. D.A. Davidson & CO. acquired a new stake in Mobileye Global in the third quarter worth $189,000. Rockefeller Capital Management L.P. bought a new position in shares of Mobileye Global during the third quarter worth $253,000. Paloma Partners Management Co acquired a new position in shares of Mobileye Global in the 3rd quarter valued at $2,598,000. Finally, Cinctive Capital Management LP bought a new stake in shares of Mobileye Global in the 3rd quarter valued at $3,637,000. Institutional investors own 13.25% of the company’s stock.

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.