Mobileye Global (NASDAQ:MBLY) Hits New 12-Month Low – What’s Next?

Shares of Mobileye Global Inc. (NASDAQ:MBLY) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $8.40 and last traded at $8.73, with a volume of 8207689 shares trading hands. The stock had previously closed at $8.97.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. HSBC downgraded Mobileye Global from a “buy” rating to a “hold” rating and set a $11.00 target price on the stock. in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mobileye Global in a research report on Wednesday, January 28th. Hsbc Global Res raised Mobileye Global to a “strong-buy” rating in a report on Friday, January 23rd. Piper Sandler lowered their target price on shares of Mobileye Global from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Finally, The Goldman Sachs Group dropped their price target on shares of Mobileye Global from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Mobileye Global has an average rating of “Hold” and an average target price of $15.89.

Mobileye Global Stock Performance

The firm has a fifty day simple moving average of $10.75 and a 200-day simple moving average of $12.79. The firm has a market cap of $7.10 billion, a price-to-earnings ratio of -17.82 and a beta of 0.58.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings data on Thursday, January 22nd. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $446.00 million for the quarter, compared to analyst estimates of $430.69 million. Mobileye Global had a negative net margin of 20.70% and a positive return on equity of 0.21%. The company’s revenue was down 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 earnings per share. Analysts expect that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mobileye Global

A number of large investors have recently made changes to their positions in the company. Intel Corp acquired a new position in Mobileye Global in the 3rd quarter valued at $706,000,000. Burkehill Global Management LP bought a new position in Mobileye Global during the third quarter worth about $42,360,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Mobileye Global in the 3rd quarter worth about $40,670,000. DNB Asset Management AS bought a new stake in Mobileye Global in the 3rd quarter valued at about $40,212,000. Finally, Two Sigma Investments LP grew its position in shares of Mobileye Global by 131.9% during the 3rd quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company’s stock worth $61,898,000 after purchasing an additional 2,493,181 shares in the last quarter. Institutional investors own 13.25% of the company’s stock.

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.