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Mobileye Sells Off Again After Andrew Left Reveals $25 Price Target

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Mobileye Sells Off Again After Andrew Left Reveals $25 Price Target

Mobileye NV (NYSE: MBLY) sold off again on Tuesday as the company continues to struggle with selling pressure, following Citron's Andrew Left's $25 price target.

Left's tweet stated: "$MBLY customer $F teams with $Goog for autonomous car. http://goo.gl/jHTnGt - Analysts silent- DUH. Short term target $25"

This wasn't the first time Citron Research has fired shots at the auto-sensor chip company. Mobileye was as its top short idea for 2016 last week, moving the stock down 5.1 percent and prompting a defense of the company by several top-tier Wall Street analyst firms.

The stock recently traded at $40.09, down 2.1 percent on Tuesday.

Related Link: Tesla Stands By Mobileye In The Face Of Scrutiny And Short Sellers

Jalal Faruki of Suhail Capital, a Dubai-based hedge fund, presented the bear case to Sum Zero back in August.

The firm had linked to a rumor which disclosed further information mentioning Tesla Motors Inc (NASDAQ: TSLA). The report said Tesla made a decision to discontinue Mobileye's autopilot feature and replace it with its own in-house technology.

Mobileye has a market cap of $8.93 billion. Its 50-day moving average price is $43.44 and its 200-day moving average price is $50.45.

The company's last quarterly earnings results were released on November 3. Mobileye reported $0.15 earnings per share for the quarter. The company's revenue was up 103.7 percent on a year-over-year basis.

Latest Ratings for MBLY

DateFirmActionFromTo
Apr 2017BairdDowngradesOutperformNeutral
Mar 2017PiperJaffrayDowngradesOverweightNeutral
Mar 2017Goldman SachsDowngradesBuyNeutral

View More Analyst Ratings for MBLY
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