Mobileye Global (NASDAQ:MBLY) Shares Up 5.2% – Here’s What Happened

Mobileye Global Inc. (NASDAQ:MBLY)’s share price rose 5.2% during mid-day trading on Tuesday . The stock traded as high as $19.83 and last traded at $19.78. Approximately 3,030,811 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 5,166,378 shares. The stock had previously closed at $18.80.

Analyst Upgrades and Downgrades

MBLY has been the topic of several recent analyst reports. BNP Paribas cut Mobileye Global from a “neutral” rating to an “underperform” rating and set a $12.00 price objective on the stock. in a report on Wednesday, October 2nd. TD Cowen upped their price target on shares of Mobileye Global from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, November 1st. Robert W. Baird raised their price objective on shares of Mobileye Global from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $11.00 target price on shares of Mobileye Global in a research note on Thursday, December 5th. Finally, Barclays dropped their price target on Mobileye Global from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $23.38.

Mobileye Global Stock Up 4.0 %

The company has a 50 day simple moving average of $15.69 and a 200 day simple moving average of $18.13. The stock has a market cap of $14.64 billion, a price-to-earnings ratio of -4.95 and a beta of 0.44.

Hedge Funds Weigh In On Mobileye Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rakuten Securities Inc. boosted its stake in shares of Mobileye Global by 140.2% during the third quarter. Rakuten Securities Inc. now owns 1,818 shares of the company’s stock valued at $25,000 after purchasing an additional 1,061 shares in the last quarter. Quarry LP bought a new stake in Mobileye Global during the 3rd quarter worth approximately $31,000. Cranbrook Wealth Management LLC bought a new position in shares of Mobileye Global during the second quarter valued at $84,000. Quest Partners LLC acquired a new position in shares of Mobileye Global during the third quarter worth $102,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Mobileye Global by 1,019.9% in the second quarter. EverSource Wealth Advisors LLC now owns 3,819 shares of the company’s stock worth $107,000 after purchasing an additional 3,478 shares during the last quarter. Institutional investors own 13.25% of the company’s stock.

About Mobileye Global

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.