The stock of Mobileye Global Inc. (NASDAQ:MBLY) increased by $2.55 on Wednesday to $40.98, up 6.64 percent. The last five days have seen an average of 2,970,188 shares of common stock traded. The average number of shares traded over the last 20 days was 2,103,237, while the average volume over the last 50 days totaled 2,428,469.
MBLY stock appreciated 18.34% since last month. On 08/28/23, the company’s shares reached a one-month low of $33.93. The stock touched a high of $48.11, after rallying from a low of $24.85 in 52 weeks. The price of MBLY stock has risen by 16.89% or $5.76 this year, reaching a new high 9 times. Still, the stock price is down -14.82% from the 52-week high.
Insider Transactions
MBLY stock investors should be aware that Mobileye Global Inc. (MBLY) stock had its last reported insider trading activity 51 days ago on Jul 31. On Jul 31, Director GELSINGER PATRICK P acquired 2,650 shares at $37.88 each. This transaction resulted in the insider spending $100,391. On Jun 12, INTEL CORP sold 38,500,000 shares at a price of US$40.84. After the transaction, the insider now owns 0 shares. CEO and President Shashua Amnon had earlier bought 476,191 shares on Oct 28 for $21.00 a share. The transaction was completed for $10,000,011.
Financial Health
For the three months ended June 29, Mobileye Global Inc.’s quick ratio was 3.80, while its current ratio was 4.50, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 49.20% percent. Mobileye Global Inc.’s EBITDA margin for the year ended June 29 was 28.36%, whereas its operating margin stood at -6.00% for the same period. Based on annual data, it had gross profit of $922.0 million and revenue of $1.87 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. MBLY’s return on assets (ROA) during the last 12 months has been -0.80%. There was a -0.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -0.90%.
Earnings Surprise
According to Mobileye Global Inc.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $454.0 million, while revenues rose by 46.94% to $458.0 million. It was predicted that Mobileye Global Inc.’s quarterly earnings would be $0.17, but it ended up being $0.12, beating the consensus by 41.70%. EBITDA was $93.0 million for the quarter. At the end of Mobileye Global Inc.’s most recent quarter ended June 29, its liabilities totaled 630.0 million, while its total debt was $42.0 million. Equity owned by shareholders amounts to $94.16 million.
Technical Picture
Here’s a quick look at Mobileye Global Inc.’s (MBLY) price momentum from a technical perspective. As of 19 September, the RSI 9-day stood at 80.46%, suggesting the stock is Overbought, with a 33.31% historical volatility rate.
The stochastic %K and %D were 82.05% and 80.61% respectively, while the average true range (ATR) was 1.62. Based on the 14-day stochastic reading of 87.19%, the RSI (14) reading is 70.97%. On the 9-day MACD Oscillator, the stock is at 2.01, and the 14-day reading is at 2.31.
Analyst Ratings
In its analyst report released on September 13, 2023, UBS began covering Mobileye Global Inc. (NASDAQ: MBLY). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Mobileye Global Inc. (MBLY) an Buy rating. MBLY is a stock that is recommended for selling by 0 brokerage firms, while 4 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 4 rates it overweight and 20 others recommend it as a buy.
What is MBLY’s price target for the next 12 months?
The current consensus forecast for the stock is between $34.00 and $72.00, with a median target price of $48.00. In analyzing these forecasts, the average price target given by analysts for Mobileye Global Inc. (MBLY) is $47.91.
