Mobileye Global (NASDAQ:MBLY) Shares Gap Up – Time to Buy?

Shares of Mobileye Global Inc. (NASDAQ:MBLY) gapped up prior to trading on Thursday . The stock had previously closed at $12.42, but opened at $14.10. Mobileye Global shares last traded at $13.62, with a volume of 4,223,290 shares.

Analyst Ratings Changes

MBLY has been the subject of several research analyst reports. Mizuho lowered shares of Mobileye Global from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $30.00 to $13.00 in a research note on Friday, October 11th. Fox Advisors lowered Mobileye Global from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. Wolfe Research downgraded Mobileye Global from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. Westpark Capital restated a “hold” rating on shares of Mobileye Global in a research note on Wednesday, July 31st. Finally, Needham & Company LLC cut their price objective on shares of Mobileye Global from $36.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.55.

Mobileye Global Stock Performance

The firm has a 50 day moving average price of $12.78 and a two-hundred day moving average price of $20.98. The company has a market cap of $11.02 billion, a P/E ratio of -48.64 and a beta of 0.08.

Mobileye Global (NASDAQ:MBLY) last issued its earnings results on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $439.00 million during the quarter, compared to analyst estimates of $424.34 million. Mobileye Global had a negative net margin of 12.14% and a positive return on equity of 1.32%. The company’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.11 earnings per share. On average, sell-side analysts predict that Mobileye Global Inc. will post -0.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Patrick P. Gelsinger acquired 6,400 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $15.48 per share, for a total transaction of $99,072.00. Following the purchase, the director now owns 139,106 shares in the company, valued at $2,153,360.88. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Patrick P. Gelsinger acquired 6,400 shares of Mobileye Global stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $15.48 per share, with a total value of $99,072.00. Following the completion of the purchase, the director now owns 139,106 shares in the company, valued at approximately $2,153,360.88. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Amnon Shashua bought 631,963 shares of the stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of $16.51 per share, for a total transaction of $10,433,709.13. Following the completion of the purchase, the chief executive officer now directly owns 4,080,097 shares in the company, valued at approximately $67,362,401.47. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Mobileye Global

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its position in shares of Mobileye Global by 64.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,736 shares of the company’s stock worth $162,000 after purchasing an additional 1,470 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of Mobileye Global by 89.8% in the 1st quarter. Baillie Gifford & Co. now owns 15,985,212 shares of the company’s stock worth $513,925,000 after buying an additional 7,560,929 shares during the last quarter. Tobam purchased a new stake in shares of Mobileye Global during the 1st quarter valued at $7,168,000. Carson Advisory Inc. bought a new stake in shares of Mobileye Global during the 1st quarter worth $240,000. Finally, DAVENPORT & Co LLC grew its position in Mobileye Global by 20.9% in the first quarter. DAVENPORT & Co LLC now owns 2,364,377 shares of the company’s stock worth $76,519,000 after acquiring an additional 408,038 shares in the last quarter. 13.25% of the stock is currently owned by institutional investors.

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.