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

Mobileye Global Inc. (NASDAQ:MBLY) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $7.11 and last traded at $7.12, with a volume of 9058893 shares. The stock had previously closed at $7.79.

Analyst Ratings Changes

MBLY has been the subject of several research reports. Tigress Financial reiterated a “buy” rating and issued a $25.00 target price on shares of Mobileye Global in a report on Thursday, January 29th. HSBC upgraded Mobileye Global to a “strong-buy” rating in a research note on Friday, January 23rd. Arete Research lowered shares of Mobileye Global from a “buy” rating to a “neutral” rating and set a $15.70 price objective for the company. in a research note on Tuesday, January 27th. Barclays upgraded shares of Mobileye Global from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $17.00 to $16.00 in a report on Monday, January 5th. Finally, Royal Bank Of Canada cut their target price on shares of Mobileye Global from $14.00 to $13.00 and set a “sector perform” rating on the stock in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $15.89.

Mobileye Global Trading Down 1.6%

The stock has a market capitalization of $5.74 billion, a P/E ratio of -13.92 and a beta of 0.59. The company has a 50-day moving average price of $8.76 and a 200 day moving average price of $11.28.

Mobileye Global (NASDAQ:MBLY) last posted its 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 company had revenue of $446.00 million for the quarter, compared to analyst estimates 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 quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 earnings per share. As a group, research analysts expect that Mobileye Global Inc. will post 0.01 earnings per share for the current year.

Institutional Investors Weigh In On Mobileye Global

Hedge funds and other institutional investors have recently bought and sold shares of the company. MAI Capital Management grew its holdings in Mobileye Global by 22.2% in the third quarter. MAI Capital Management now owns 4,400 shares of the company’s stock worth $62,000 after purchasing an additional 800 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in shares of Mobileye Global by 6.3% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 16,068 shares of the company’s stock valued at $168,000 after purchasing an additional 957 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Mobileye Global by 2.5% during the 2nd quarter. Sei Investments Co. now owns 45,080 shares of the company’s stock valued at $811,000 after purchasing an additional 1,090 shares during the last quarter. Cresset Asset Management LLC boosted its position in shares of Mobileye Global by 6.3% in the 3rd quarter. Cresset Asset Management LLC now owns 18,819 shares of the company’s stock worth $266,000 after purchasing an additional 1,110 shares in the last quarter. Finally, Country Club Bank boosted its position in shares of Mobileye Global by 0.8% in the 3rd quarter. Country Club Bank now owns 144,803 shares of the company’s stock worth $2,048,000 after purchasing an additional 1,188 shares in the last quarter. Hedge funds and other institutional investors own 13.25% of the company’s stock.

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.