Mobileye Global (NASDAQ:MBLY) Shares Gap Up to $11.42

Mobileye Global Inc. (NASDAQ:MBLY) shares gapped up prior to trading on Tuesday . The stock had previously closed at $11.42, but opened at $12.10. Mobileye Global shares last traded at $12.00, with a volume of 1,603,315 shares.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Robert W. Baird dropped their target price on Mobileye Global from $40.00 to $29.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Wolfe Research lowered Mobileye Global from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. Hsbc Global Res upgraded Mobileye Global to a “strong-buy” rating in a research report on Monday, July 15th. Daiwa America downgraded shares of Mobileye Global from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, UBS Group dropped their price target on shares of Mobileye Global from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mobileye Global currently has an average rating of “Moderate Buy” and a consensus price target of $30.81.

Mobileye Global Trading Down 1.9 %

The firm has a market capitalization of $9.40 billion, a price-to-earnings ratio of -56.38 and a beta of 0.08. The company has a fifty day moving average price of $17.08 and a two-hundred day moving average price of $24.71.

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

Insider Transactions at Mobileye Global

In other news, Director Patrick P. Gelsinger bought 6,400 shares of the stock in a transaction on Monday, August 5th. The shares were bought at an average price of $15.48 per share, with a total value of $99,072.00. Following the completion of the acquisition, the director now owns 139,106 shares of the company’s stock, valued at $2,153,360.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Mobileye Global news, CEO Amnon Shashua bought 631,963 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost 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 owns 4,080,097 shares of the company’s stock, valued at approximately $67,362,401.47. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Patrick P. Gelsinger acquired 6,400 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were bought at an average price of $15.48 per share, for a total transaction of $99,072.00. Following the completion of the acquisition, 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. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. boosted its holdings in 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 acquiring an additional 7,560,929 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Mobileye Global by 807.3% during the second quarter. The Manufacturers Life Insurance Company now owns 9,073,601 shares of the company’s stock valued at $254,832,000 after acquiring an additional 8,073,552 shares in the last quarter. Kodai Capital Management LP purchased a new stake in shares of Mobileye Global during the fourth quarter worth about $148,924,000. Wellington Management Group LLP lifted its stake in shares of Mobileye Global by 200.3% in the fourth quarter. Wellington Management Group LLP now owns 3,398,211 shares of the company’s stock worth $147,210,000 after acquiring an additional 2,266,438 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Mobileye Global by 25.8% in the fourth quarter. Franklin Resources Inc. now owns 2,622,704 shares of the company’s stock valued at $113,616,000 after purchasing an additional 538,371 shares during the last quarter. Hedge funds and other institutional investors own 13.25% of the company’s stock.

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.