Zacks Research Downgrades Mobileye Global (NASDAQ:MBLY) to Strong Sell

Mobileye Global (NASDAQ:MBLY) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research firms also recently commented on MBLY. Piper Sandler cut their target price on shares of Mobileye Global from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Barclays upgraded Mobileye Global from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $17.00 to $16.00 in a report on Monday, January 5th. Wolfe Research lowered shares of Mobileye Global from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 12th. Canaccord Genuity Group cut their price objective on shares of Mobileye Global from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, January 23rd. Finally, The Goldman Sachs Group reduced their price objective on Mobileye Global from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Mobileye Global has a consensus rating of “Hold” and an average target price of $15.89.

Mobileye Global Stock Performance

NASDAQ:MBLY traded down $0.25 during mid-day trading on Tuesday, hitting $9.27. 4,482,231 shares of the stock were exchanged, compared to its average volume of 13,534,131. The firm’s 50-day simple moving average is $10.92 and its 200 day simple moving average is $13.01. The stock has a market capitalization of $7.54 billion, a price-to-earnings ratio of -18.87, a price-to-earnings-growth ratio of 4.50 and a beta of 0.57. Mobileye Global has a fifty-two week low of $9.10 and a fifty-two week high of $20.18.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings results on Thursday, January 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $446.00 million during the quarter, compared to analysts’ expectations of $430.69 million. Mobileye Global had a positive return on equity of 0.21% and a negative net margin of 20.70%.The firm’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 earnings per share. On average, analysts predict that Mobileye Global will post 0.01 EPS for the current fiscal year.

Institutional Trading of Mobileye Global

Institutional investors and hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. bought a new stake in Mobileye Global during the second quarter valued at $31,000. IFP Advisors Inc increased its position in shares of Mobileye Global by 465.7% in the third quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock worth $26,000 after purchasing an additional 1,495 shares during the last quarter. Rhumbline Advisers purchased a new stake in Mobileye Global in the first quarter valued at approximately $27,000. Financial Management Professionals Inc. bought a new position in shares of Mobileye Global in the 4th quarter worth $32,000. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Mobileye Global by 8,500.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,182 shares of the company’s stock worth $45,000 after acquiring an additional 3,145 shares during the last quarter. 13.25% of the stock is currently owned by hedge funds and other institutional investors.

About Mobileye Global

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.