Mobileye Global (NASDAQ:MBLY) Sees Unusually-High Trading Volume

Shares of Mobileye Global Inc. (NASDAQ:MBLY) saw unusually-strong trading volume on Thursday . Approximately 4,563,889 shares changed hands during mid-day trading, an increase of 1% from the previous session’s volume of 4,530,806 shares.The stock last traded at $13.50 and had previously closed at $11.61.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MBLY shares. Daiwa America cut Mobileye Global from a “strong-buy” rating to a “hold” rating in a report on Monday, August 5th. Robert W. Baird cut their target price on Mobileye Global from $40.00 to $29.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. HSBC started coverage on Mobileye Global in a report on Monday, July 15th. They issued a “buy” rating and a $33.00 target price on the stock. Barclays cut their target price on Mobileye Global from $40.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Finally, Needham & Company LLC lowered their price target on Mobileye Global from $36.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Mobileye Global has an average rating of “Moderate Buy” and an average price target of $30.81.

Mobileye Global Trading Down 7.3 %

The stock has a market capitalization of $10.02 billion, a PE ratio of -58.95 and a beta of 0.08. The firm has a 50-day moving average price of $16.50 and a 200-day moving average price of $24.54.

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

Insider Transactions at Mobileye Global

In other news, Director Patrick P. Gelsinger purchased 6,400 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $15.48 per share, for a total transaction of $99,072.00. Following the purchase, the director now owns 139,106 shares of the company’s stock, valued at $2,153,360.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Patrick P. Gelsinger purchased 6,400 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $15.48 per share, for a total transaction of $99,072.00. Following the purchase, the director now owns 139,106 shares of the company’s stock, valued at $2,153,360.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amnon Shashua bought 631,963 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was 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 in the company, valued at $67,362,401.47. The disclosure for this purchase can be found here. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. TD Asset Management Inc boosted its stake in Mobileye Global by 59.2% in the 4th quarter. TD Asset Management Inc now owns 140,083 shares of the company’s stock worth $6,068,000 after purchasing an additional 52,088 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new position in Mobileye Global in the 1st quarter worth about $1,294,000. Pinebridge Investments L.P. boosted its stake in Mobileye Global by 70.4% in the 4th quarter. Pinebridge Investments L.P. now owns 243,265 shares of the company’s stock worth $10,537,000 after purchasing an additional 100,494 shares during the period. Wells Fargo & Company MN boosted its position in shares of Mobileye Global by 15.2% during the 4th quarter. Wells Fargo & Company MN now owns 263,855 shares of the company’s stock valued at $11,430,000 after acquiring an additional 34,763 shares during the last quarter. Finally, Assetmark Inc. boosted its position in shares of Mobileye Global by 2.2% during the 4th quarter. Assetmark Inc. now owns 108,331 shares of the company’s stock valued at $4,693,000 after acquiring an additional 2,346 shares during the last quarter. 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.