Mobileye Global (NASDAQ:MBLY) Shares Gap Up – Time to Buy?

Mobileye Global Inc. (NASDAQ:MBLY) gapped up before the market opened on Thursday . The stock had previously closed at $12.42, but opened at $14.10. Mobileye Global shares last traded at $13.62, with a volume of 4,223,290 shares.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MBLY shares. Westpark Capital restated a “hold” rating on shares of Mobileye Global in a research note on Wednesday, July 31st. Fox Advisors downgraded shares of Mobileye Global from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $15.00 target price on shares of Mobileye Global in a research report on Tuesday, September 10th. BNP Paribas downgraded shares of Mobileye Global from a “neutral” rating to an “underperform” rating and set a $12.00 price target for the company. in a report on Wednesday, October 2nd. Finally, Hsbc Global Res upgraded shares of Mobileye Global to a “strong-buy” rating in a report on Monday, July 15th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $23.25.

Mobileye Global Trading Up 14.4 %

The firm has a market capitalization of $12.60 billion, a price-to-earnings ratio of -55.61 and a beta of 0.08. The firm has a fifty day moving average price of $12.77 and a 200 day moving average price of $20.82.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.09 EPS 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 firm earned $0.11 earnings per share. The business’s revenue was down 3.3% on a year-over-year basis. As a group, equities analysts predict that Mobileye Global Inc. will post -0.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Patrick P. Gelsinger acquired 6,400 shares of the stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $15.48 per share, for a total transaction of $99,072.00. Following the transaction, the director now owns 139,106 shares of the company’s stock, valued at $2,153,360.88. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Atria Investments Inc lifted its stake in shares of Mobileye Global by 168.7% during the third quarter. Atria Investments Inc now owns 26,860 shares of the company’s stock valued at $368,000 after acquiring an additional 16,862 shares during the period. ARK Investment Management LLC raised its holdings in Mobileye Global by 7.7% during the 3rd quarter. ARK Investment Management LLC now owns 74,878 shares of the company’s stock worth $1,026,000 after purchasing an additional 5,323 shares during the last quarter. Malaga Cove Capital LLC acquired a new position in Mobileye Global during the 3rd quarter valued at about $305,000. Impax Asset Management Group plc bought a new position in shares of Mobileye Global in the 3rd quarter valued at about $871,000. Finally, Arcadia Investment Management Corp MI grew its position in shares of Mobileye Global by 13.1% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 139,656 shares of the company’s stock worth $1,913,000 after buying an additional 16,190 shares during the period. 13.25% of the stock is currently owned by institutional investors.

Mobileye Global Company Profile

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.