Tag Archives: mbly

Will Tesla Suffer Same Fate As Other Citron Shorts GPRO, AMBA, MBLY?

Loading the player… Tesla Motors ( TSLA ) took a hit after short seller Citron Research sent out a tweet Tuesday that it’s shorting the stock. And with other notable Citron shorts trading well off of their highs, including GoPro ( GPRO ), Ambarella ( AMBA ) and Mobileye ( MBLY ), the call could potentially be a bad sign for the electric-car maker. Citron said on Twitter ( TWTR ) that Tesla has “supply AND demand problems” and that the “news flow all around does not look good” for the stock. The short seller sees the stock hitting as low as 100 by the end of the year. It’s currently trading around 185. Tesla stock reversed lower Tuesday on the news, falling 2.9% after hitting resistance at its downward-sloping 50-day line for a second straight session. Tesla dipped 0.3% on the stock market today  in quick turnover. The stock is trading 35% below its July high, reached in a now-failed breakout attempt from a cup-with-handle base. The stock has trended lower since then as analysts have voiced concerns about the production of Tesla’s new models and their demand. Meanwhile, GoPro is trading 79% below its 52-week high. Shares were briefly able to hold above their 50-day and 200-day moving averages last summer, but the stock entered a steep decline soon after. GoPro shot up 11% Wednesday after announcing it’s buying two video editing mobile apps. GoPro chip supplier Ambarella has moved somewhat in tandem with the action camera maker. It’s trading 65% below its all-time high, which it reached last July after initial commentary from Citron hit the stock about a month earlier. Shares are currently trying to find support at their 50-day line as they fell 2.4% Wednesday. And Mobileye, a Tesla partner, is also trying to hold above its downward-sloping 50-day line, trading down a fraction after losing as much as 4% intraday. It’s trading about 48% below its August high. In December, Citron called Mobileye its 2016 short of the year.

Mobileye Q4 Earnings Tops Views, But Tesla Partner’s Outlook Light

Mobileye ( MBLY ) reported fourth quarter earnings before the market open Wednesday that beat estimates but provided a 2016 outlook that fell short. The provider of driver-assistance technology reported revenue of $71.8 million, up 81% year-over-year and topping the consensus estimate of $70.76 million. Mobileye reported earnings per share minus items of 15 cents, compared with 6 cents a year ago and topping the consensus of 14 cents. Mobileye’s guidance for 2016 fell short. It forecasts revenue in the range of $336 million to $340 million, up 40% at the midpoint but below views of $344.5 million. It forecast earnings per share of 68 cents to 69 cents, below the forecast of 70 cents. Mobileye stock rebounded after falling 14% briefly Thursday morning. In early afternoon trading the stock was down 2%, near 28 in the stock market today . The stock is far below its all-time high of 64.48 set in August, under pressure over growing competition from Alphabet ( GOOGL ) and others. While Alphabet’s Google car gets most of the media attention for self-driving cars, Mobileye is one of the tech companies in the driver’s seat, a leader in autonomous-driving technology. It specializes in developing chips and software that collect and process data from automobiles’ camera systems and sensors. Customers include General Motors ( GM ), Ford Motors ( F ), BMW, Honda Motor ( HMC ) and Nissan Motor. Mobileye has listed Tesla Motors ( TSLA ) as a customer but details of that agreement have not been revealed. Tesla has referred to it as a “business relationship.” Tesla has said it plans to develop its own autonomous-driving systems but would use sensors and components from other companies. Mobileye’s camera-based system identifies detailed interpretations of roads and sidewalks to help prevent collisions with vehicles, pedestrians and anything else, the company says. It detects roadway markings and boundaries and can read traffic signs and lights. On Tuesday, Mobileye announced an agreement with Nissan ( NSANY ) to integrate Mobileye’s new Road Experience Management technology into Nissan’s fleets. Nissan is the third large automaker to have partnered with Mobileye to integrate its new REM.  The technology provides real-time data for precise localization and high-definition lane data to support fully autonomous driving. Mobileye raised $890 million from its August 2014 initial public offering, selling 35.6 million shares at an above-range price of 25. Mobileye stock currently gets a 54 Composite Rating from IBD out of a possible 99.

Tesla Motors Better Watch Out For This Competitor

Loading the player… Luxury sports-car maker Aston Martin could soon be giving Tesla Motors ( TSLA ) a run for its money. This week, privately held Aston Martin said it’s partnering with China’s LeEco and California-based e-car developer Faraday Future to make its all-electric RapidE sports sedan concept a reality. The company says the car will head into production in 2018. Last September, Tesla CEO Elon Musk said his company’s $35,000 mass-market version, the Model 3, will begin production in about two years — that’s fall 2017. The Model 3 will be unveiled on March 31, with pre-orders starting then. At the low end of the market, Tesla is set to compete with General Motors ( GM ). GM’s Chevy Bolt is entering production in late 2016. Other companies, from BMW to Volkswagen ( VLKAY ), have their own all-electric models. Tesla shares fell 0.5% in below-average volume Friday, after reversing lower in the last session. The stock is now about 42% below its July high, reached just before the stock failed to break out of a cup-with-handle base. Meanwhile, Tesla chip supplier Nvidia ( NVDA ) gapped up to retake its 50-day line in Thursday’s session after issuing view-topping quarterly results late Wednesday. Nvidia shares climbed 1.7% Friday as they work on a base with a 34.04 buy point. Mobileye ( MBLY ), another Tesla tech partner, reports its quarterly results next Wednesday. Analysts expect the bottom line to jump 133%. Mobileye is trying to come off of a recent bottom near 23, trading 55% off of its peak reached last August. Mobileye rose 2% intraday Friday.