Mobileye Global Sees Unusually High Options Volume (NASDAQ:MBLY)
by Kim Johansen · The Markets DailyMobileye Global Inc. (NASDAQ:MBLY – Get Free Report) saw some unusual options trading on Tuesday. Traders acquired 19,116 call options on the stock. This is an increase of approximately 54% compared to the average volume of 12,428 call options.
Insiders Place Their Bets
In other Mobileye Global news, Director Safroadu Yeboah-Amankwah acquired 11,841 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were acquired at an average cost of $8.46 per share, for a total transaction of $100,174.86. Following the transaction, the director directly owned 84,336 shares of the company’s stock, valued at approximately $713,482.56. This represents a 16.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frank D. Yeary bought 12,360 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were acquired at an average price of $7.98 per share, with a total value of $98,632.80. Following the transaction, the director owned 12,360 shares of the company’s stock, valued at $98,632.80. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 10.00% of the company’s stock.
Institutional Trading of Mobileye Global
Several hedge funds and other institutional investors have recently bought and sold shares of MBLY. IFP Advisors Inc raised its holdings in Mobileye Global by 465.7% in the 3rd quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock valued at $26,000 after acquiring an additional 1,495 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of Mobileye Global during the first quarter worth $27,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Mobileye Global during the second quarter worth $31,000. Financial Management Professionals Inc. acquired a new stake in shares of Mobileye Global during the fourth quarter worth $32,000. Finally, Leonteq Securities AG purchased a new stake in shares of Mobileye Global in the fourth quarter valued at $33,000. 13.25% of the stock is owned by hedge funds and other institutional investors.
Mobileye Global Price Performance
NASDAQ:MBLY traded down $0.36 on Tuesday, reaching $8.87. The stock had a trading volume of 5,370,351 shares, compared to its average volume of 7,379,199. Mobileye Global has a 12-month low of $6.47 and a 12-month high of $15.81. The company has a market cap of $7.45 billion, a price-to-earnings ratio of -1.78, a P/E/G ratio of 3.04 and a beta of 1.21. The firm’s fifty day moving average is $8.85 and its two-hundred day moving average is $8.72.
Mobileye Global (NASDAQ:MBLY – Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.13. The business had revenue of $508.00 million during the quarter, compared to the consensus estimate of $480.51 million. Mobileye Global had a negative net margin of 201.49% and a positive return on equity of 0.70%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) earnings per share. As a group, research analysts forecast that Mobileye Global will post 0.11 earnings per share for the current fiscal year.
Mobileye Global announced that its Board of Directors has initiated a share buyback program on Thursday, April 23rd that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Analysts Set New Price Targets
MBLY has been the topic of several research reports. Berenberg Bank upgraded shares of Mobileye Global from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Monday. Zacks Research raised Mobileye Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. BNP Paribas Exane lowered their target price on Mobileye Global from $11.50 to $8.50 and set a “neutral” rating on the stock in a report on Wednesday, April 22nd. Tigress Financial lowered their target price on Mobileye Global from $25.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, UBS Group dropped their price target on Mobileye Global from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $12.65.
Get Our Latest Report on Mobileye Global
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.