Wolfe Research Lowers Mobileye Global (NASDAQ:MBLY) to Peer Perform

Wolfe Research downgraded shares of Mobileye Global (NASDAQ:MBLY) from an outperform rating to a peer perform rating in a report issued on Thursday morning, MarketBeat reports.

A number of other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Mobileye Global from an overweight rating to a neutral rating and dropped their price objective for the company from $38.00 to $24.00 in a research note on Wednesday, July 31st. The Goldman Sachs Group cut their price target on shares of Mobileye Global from $32.00 to $24.00 and set a buy rating for the company in a research note on Friday, August 2nd. Hsbc Global Res upgraded Mobileye Global to a strong-buy rating in a research note on Monday, July 15th. Daiwa Capital Markets downgraded Mobileye Global from a buy rating to a neutral rating in a research report on Monday, August 5th. Finally, Morgan Stanley upgraded Mobileye Global from an underweight rating to an equal weight rating and lowered their price target for the company from $25.00 to $18.00 in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Mobileye Global currently has a consensus rating of Moderate Buy and a consensus target price of $31.60.

Mobileye Global Stock Performance

Shares of MBLY opened at $11.55 on Thursday. Mobileye Global has a 52 week low of $11.45 and a 52 week high of $44.48. The firm has a market capitalization of $9.35 billion, a P/E ratio of -55.00 and a beta of 0.08. The company has a 50-day simple moving average of $19.38 and a 200-day simple moving average of $25.40.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The firm had revenue of $439.00 million during the quarter, compared to analysts’ expectations of $424.34 million. Mobileye Global had a positive return on equity of 1.32% and a negative net margin of 12.14%. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 EPS. As a group, equities analysts forecast that Mobileye Global will post -0.07 earnings per share for the current year.

Insider Buying and Selling at Mobileye Global

In other news, CEO Amnon Shashua bought 631,963 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $16.51 per share, for a total transaction of $10,433,709.13. Following the completion of the transaction, the chief executive officer now directly owns 4,080,097 shares in the company, valued at approximately $67,362,401.47. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Mobileye Global news, CEO Amnon Shashua bought 631,963 shares of Mobileye Global stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $16.51 per share, with a total value of $10,433,709.13. Following the purchase, the chief executive officer now owns 4,080,097 shares of the company’s stock, valued at $67,362,401.47. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Patrick P. Gelsinger purchased 6,400 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $15.48 per share, with a total value of $99,072.00. Following the transaction, the director now owns 139,106 shares in the company, valued at $2,153,360.88. The disclosure for this purchase can be found here. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Securities Inc. acquired a new position in Mobileye Global in the fourth quarter valued at about $28,000. Register Financial Advisors LLC bought a new position in Mobileye Global during the 1st quarter worth approximately $32,000. National Bank of Canada FI grew its holdings in Mobileye Global by 90.0% during the fourth quarter. National Bank of Canada FI now owns 1,425 shares of the company’s stock valued at $59,000 after purchasing an additional 675 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in shares of Mobileye Global in the 4th quarter valued at approximately $77,000. Finally, Lee Financial Co bought a new stake in Mobileye Global during the 4th quarter worth approximately $108,000. 13.25% of the stock is currently owned by institutional investors.

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.