Mobileye Global (NASDAQ:MBLY) Hits New 12-Month Low Following Analyst Downgrade

Mobileye Global Inc. (NASDAQ:MBLY)’s share price hit a new 52-week low on Tuesday after Barclays lowered their price target on the stock from $16.00 to $14.00. Barclays currently has an overweight rating on the stock. Mobileye Global traded as low as $6.47 and last traded at $6.56, with a volume of 5964766 shares changing hands. The stock had previously closed at $6.73.

Other equities analysts have also issued reports about the company. Zacks Research lowered Mobileye Global from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Piper Sandler dropped their price objective on Mobileye Global from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. HSBC upgraded Mobileye Global to a “strong-buy” rating in a report on Friday, January 23rd. Royal Bank Of Canada lowered their target price on Mobileye Global from $14.00 to $13.00 and set a “sector perform” rating on the stock in a report on Friday, January 23rd. Finally, Wolfe Research downgraded shares of Mobileye Global from an “outperform” rating to a “peer perform” rating in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Mobileye Global has a consensus rating of “Hold” and a consensus price target of $15.79.

Hedge Funds Weigh In On Mobileye Global

A number of hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Mobileye Global during the second quarter valued at $31,000. IFP Advisors Inc increased its stake in Mobileye Global by 465.7% in the 3rd quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock worth $26,000 after purchasing an additional 1,495 shares in the last quarter. Rhumbline Advisers purchased a new position in Mobileye Global in the 1st quarter worth about $27,000. Financial Management Professionals Inc. acquired a new stake in Mobileye Global during the 4th quarter worth about $32,000. Finally, Leonteq Securities AG acquired a new stake in Mobileye Global during the 4th quarter worth about $33,000. 13.25% of the stock is currently owned by institutional investors and hedge funds.

Mobileye Global Stock Down 2.5%

The company has a market capitalization of $5.52 billion, a PE ratio of -13.39 and a beta of 0.59. The business’s 50 day simple moving average is $8.61 and its 200 day simple moving average is $11.13.

Mobileye Global (NASDAQ:MBLY) last released its earnings results on Thursday, January 22nd. The company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Mobileye Global had a negative net margin of 20.70% and a positive return on equity of 0.21%. The business had revenue of $446.00 million for the quarter, compared to the consensus estimate of $430.69 million. During the same period last year, the firm posted $0.13 earnings per share. The firm’s quarterly revenue was down 9.0% compared to the same quarter last year. On average, analysts anticipate that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal year.

Mobileye Global Company Profile

Mobileye Global Inc (NASDAQ: MBLY) is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye’s core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.

Founded in 1999 by Prof.