Mobileye Global (NASDAQ:MBLY) Reaches New 52-Week Low – Should You Sell?

Mobileye Global Inc. (NASDAQ:MBLY) hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $5.03 and last traded at $5.0650, with a volume of 922,505 shares. The stock had previously closed at $5.34.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MBLY. BNP Paribas Exane reduced their price objective on shares of Mobileye Global from $7.50 to $6.50 and set a “neutral” rating for the company in a research report on Monday. JPMorgan Chase & Co. cut their price target on shares of Mobileye Global from $9.00 to $7.50 and set a “neutral” rating on the stock in a research note on Monday. Mizuho reduced their price target on shares of Mobileye Global from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, July 24th. Citigroup assumed coverage on shares of Mobileye Global in a research note on Friday, October 16th. They issued a “buy” rating and a $11.00 price objective for the company. Finally, Piper Sandler raised Mobileye Global from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $10.00 to $12.00 in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $10.43.

Mobileye Global Price Performance

The firm has a 50-day simple moving average of $7.48 and a two-hundred day simple moving average of $8.47. The company has a market cap of $4.17 billion, a PE ratio of -1.00, a P/E/G ratio of 1.71 and a beta of 1.30.

Mobileye Global (NASDAQ:MBLY) last issued its earnings results on Thursday, October 29th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $492.00 million for the quarter, compared to analysts’ expectations of $476.78 million. Mobileye Global had a positive return on equity of 0.66% and a negative net margin of 201.25%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 earnings per share. Equities research analysts forecast that Mobileye Global Inc. will post 0.11 EPS for the current year.

Institutional Investors Weigh In On Mobileye Global

Several large investors have recently modified their holdings of the stock. Allworth Financial LP raised its stake in Mobileye Global by 63.6% during the 2nd quarter. Allworth Financial LP now owns 3,947 shares of the company’s stock valued at $38,000 after purchasing an additional 1,535 shares during the period. Financial Management Professionals Inc. lifted its holdings in shares of Mobileye Global by 176.4% in the third quarter. Financial Management Professionals Inc. now owns 4,231 shares of the company’s stock valued at $31,000 after purchasing an additional 2,700 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Mobileye Global by 2,098.0% in the third quarter. Parallel Advisors LLC now owns 4,396 shares of the company’s stock worth $32,000 after buying an additional 4,196 shares during the period. Bogart Wealth LLC boosted its position in shares of Mobileye Global by 5,000.0% in the first quarter. Bogart Wealth LLC now owns 5,100 shares of the company’s stock worth $35,000 after buying an additional 5,000 shares during the period. Finally, Nykredit A S acquired a new stake in shares of Mobileye Global in the second quarter worth $77,000. 13.25% of the stock is owned by institutional investors.

Mobileye Global Company Profile

Mobileye Global Inc (NASDAQ:MBLY) develops advanced driver-assistance systems and autonomous driving technologies for vehicle manufacturers worldwide. Founded in 1999 and headquartered in Jerusalem, Israel, the company provides computer-vision and artificial-intelligence solutions designed to improve vehicle safety and support automated driving.

Its product portfolio includes EyeQ system-on-chips, camera-based driver-assistance features, and software for functions such as automatic emergency braking, lane-keeping assistance, adaptive cruise control, and traffic-sign recognition.