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

Israeli based Mobileye NV MBLY sold off again on Tuesday. The company continues to struggle with selling pressure, following Andrew Left's recent $25 price target on the company. Mobileye opened the trading session at 40.95. Left put out a negative tweet on MBLY: "$MBLY customer $F teams with $Goog for autonomous car. http://goo.gl/jHTnGt - Analysts silent- DUH. Short term target $25," Citron's Andrew Left tweeted. This wasn't the first time Citron Research has fired at the auto-sensor chip company. Mobileye had been named by Citron Research as its top short idea for 2016, a few days ago, moving the stock down 5.1 percent, and prompting a defense of the company by several top-tier Wall Street analyst firms. Jalal Faruki of Suhail Capital, a Dubai-based hedge fund, presented the bear case to Sum Zero back in August. Additionally, the firm had linked to a rumour which disclosed further information mentioning Tesla Motors Inc TSLA. The report which circulated, revealed that Tesla made a decision to discontinue Mobileyes' autopilot feature and replace it with its own in-house technology. MBLY has a market cap of $8.93 billion and a P/E ratio of 265.91. The company has a 12 month low of $32.41 and a 12 month high of $64.48. Mobileye NV has a 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 Tuesday, November 3rd. Mobileye NV reported $0.15 earnings per share for the quarter. Mobileye NV earned $0.04 EPS during the same quarter in the prior year. The company's revenue was up 103.7 percent on a year-over-year basis.