Mobileye Global (NASDAQ:MBLY) Stock Price Down 5.1% on Analyst Downgrade

Shares of Mobileye Global Inc. (NASDAQ:MBLY) dropped 5.1% during mid-day trading on Monday after Citigroup lowered their price target on the stock from $58.00 to $53.00. Citigroup currently has a buy rating on the stock. Mobileye Global traded as low as $27.36 and last traded at $27.72. Approximately 2,284,330 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 4,578,108 shares. The stock had previously closed at $29.20.

MBLY has been the subject of a number of other research reports. Needham & Company LLC restated a “buy” rating and issued a $36.00 target price on shares of Mobileye Global in a research note on Friday. Bank of America downgraded Mobileye Global from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $47.00 to $22.00 in a research report on Thursday, January 4th. Robert W. Baird cut their price target on Mobileye Global from $43.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, January 26th. Morgan Stanley downgraded Mobileye Global from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $26.00 to $25.00 in a research report on Friday. Finally, JPMorgan Chase & Co. increased their price target on Mobileye Global from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.58.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MBLY. CWM LLC purchased a new stake in shares of Mobileye Global during the 3rd quarter valued at approximately $25,000. Principal Securities Inc. purchased a new stake in Mobileye Global in the fourth quarter valued at approximately $28,000. Register Financial Advisors LLC purchased a new stake in Mobileye Global in the first quarter valued at approximately $32,000. Cary Street Partners Investment Advisory LLC purchased a new stake in Mobileye Global in the third quarter valued at approximately $35,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Mobileye Global by 33.3% in the third quarter. Venturi Wealth Management LLC now owns 1,200 shares of the company’s stock worth $50,000 after acquiring an additional 300 shares in the last quarter. 13.25% of the stock is owned by hedge funds and other institutional investors.

Mobileye Global Price Performance

The company’s 50 day simple moving average is $29.27 and its 200 day simple moving average is $33.27. The firm has a market cap of $22.57 billion, a price-to-earnings ratio of -133.33, a P/E/G ratio of 13.57 and a beta of -0.22.

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.