Mobileye Global (NASDAQ:MBLY) Shares Gap Up to $12.38

Mobileye Global Inc. (NASDAQ:MBLY) gapped up prior to trading on Monday . The stock had previously closed at $12.38, but opened at $12.70. Mobileye Global shares last traded at $12.91, with a volume of 1,679,744 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Hsbc Global Res upgraded Mobileye Global to a “strong-buy” rating in a research note on Monday, July 15th. Morgan Stanley raised Mobileye Global from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $25.00 to $18.00 in a report on Friday, August 2nd. Fox Advisors downgraded shares of Mobileye Global from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. HSBC initiated coverage on shares of Mobileye Global in a research note on Monday, July 15th. They set a “buy” rating and a $33.00 price objective for the company. Finally, The Goldman Sachs Group cut their price objective on shares of Mobileye Global from $32.00 to $24.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.81.

Mobileye Global Stock Performance

The firm’s 50 day moving average is $16.22 and its 200-day moving average is $24.42. The company has a market cap of $10.51 billion, a PE ratio of -62.14 and a beta of 0.08.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $439.00 million for the quarter, compared to analyst estimates of $424.34 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, analysts predict that Mobileye Global Inc. will post -0.07 EPS for the current year.

Insider Buying and Selling at Mobileye Global

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

Hedge Funds Weigh In On Mobileye Global

Several large investors have recently made changes to their positions in the stock. Principal Securities Inc. purchased a new position in shares of Mobileye Global during the fourth quarter worth $28,000. Register Financial Advisors LLC acquired a new position in Mobileye Global in the 1st quarter valued at about $32,000. Newbridge Financial Services Group Inc. purchased a new stake in Mobileye Global during the fourth quarter worth about $77,000. Cranbrook Wealth Management LLC acquired a new stake in shares of Mobileye Global during the second quarter worth about $84,000. Finally, Natixis Investment Managers International purchased a new position in shares of Mobileye Global in the first quarter valued at approximately $99,000. 13.25% of the stock is currently owned by institutional investors and hedge funds.

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.