Investors Buy Large Volume of Mobileye Global Put Options (NASDAQ:MBLY)

Mobileye Global Inc. (NASDAQ:MBLY) was the target of some unusual options trading on Thursday. Stock investors acquired 42,051 put options on the stock. This represents an increase of 88% compared to the average volume of 22,310 put options.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MBLY. UBS Group cut their price objective on shares of Mobileye Global from $22.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Needham & Company LLC reduced their target price on Mobileye Global from $36.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Morgan Stanley upgraded Mobileye Global from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $25.00 to $18.00 in a research note on Friday, August 2nd. HSBC initiated coverage on Mobileye Global in a research note on Monday, July 15th. They set a “buy” rating and a $33.00 price target on the stock. Finally, Royal Bank of Canada cut their target price on Mobileye Global from $34.00 to $24.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Mobileye Global currently has a consensus rating of “Moderate Buy” and an average price target of $31.60.

Insider Buying and Selling at Mobileye Global

In other news, CEO Amnon Shashua acquired 631,963 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average cost of $16.51 per share, for a total transaction of $10,433,709.13. Following the completion of the transaction, the chief executive officer now owns 4,080,097 shares of the company’s stock, valued at $67,362,401.47. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Patrick P. Gelsinger purchased 6,400 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $15.48 per share, for a total transaction of $99,072.00. Following the purchase, the director now directly owns 139,106 shares in the company, valued at approximately $2,153,360.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Amnon Shashua purchased 631,963 shares of Mobileye Global stock in a transaction dated Friday, August 2nd. The shares were acquired at an average cost of $16.51 per share, with a total value of $10,433,709.13. Following the transaction, the chief executive officer now directly owns 4,080,097 shares in the company, valued at $67,362,401.47. The disclosure for this purchase can be found here. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Mobileye Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Securities Inc. acquired a new position in shares of Mobileye Global during the 4th quarter worth approximately $28,000. Register Financial Advisors LLC bought a new position in shares of Mobileye Global during the first quarter valued at $32,000. National Bank of Canada FI raised its stake in shares of Mobileye Global by 90.0% during the fourth quarter. National Bank of Canada FI now owns 1,425 shares of the company’s stock valued at $59,000 after acquiring an additional 675 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in Mobileye Global during the fourth quarter worth $77,000. Finally, Cranbrook Wealth Management LLC bought a new position in Mobileye Global during the second quarter worth $84,000. 13.25% of the stock is owned by institutional investors.

Mobileye Global Stock Performance

NASDAQ MBLY traded down $0.13 during trading on Thursday, reaching $13.49. 2,078,081 shares of the company traded hands, compared to its average volume of 4,392,602. The stock’s 50 day moving average price is $20.02 and its two-hundred day moving average price is $25.58. The company has a market cap of $10.92 billion, a price-to-earnings ratio of -63.62 and a beta of 0.13. Mobileye Global has a 1-year low of $13.16 and a 1-year high of $44.48.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. Mobileye Global had a negative net margin of 12.14% and a positive return on equity of 1.32%. The firm had revenue of $439.00 million during the quarter, compared to analysts’ expectations of $424.34 million. During the same quarter in the previous year, the company posted $0.11 EPS. Mobileye Global’s revenue was down 3.3% on a year-over-year basis. Equities research analysts expect that Mobileye Global will post -0.07 EPS for the current fiscal year.

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.