Short Interest in Mobileye Global Inc. (NASDAQ:MBLY) Drops By 18.7%

Mobileye Global Inc. (NASDAQ:MBLY) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 18,270,000 shares, a drop of 18.7% from the December 15th total of 22,460,000 shares. Based on an average trading volume of 7,070,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 19.7% of the shares of the company are sold short.

Mobileye Global Stock Performance

Shares of NASDAQ:MBLY traded down $0.49 during mid-day trading on Friday, reaching $16.02. 6,358,060 shares of the company’s stock were exchanged, compared to its average volume of 6,754,333. Mobileye Global has a twelve month low of $10.48 and a twelve month high of $34.00. The firm has a market capitalization of $12.99 billion, a price-to-earnings ratio of -4.39, a PEG ratio of 13.46 and a beta of 0.30. The business’s fifty day moving average price is $17.82 and its 200-day moving average price is $16.69.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MBLY. SG Americas Securities LLC acquired a new stake in Mobileye Global during the 4th quarter valued at approximately $1,138,000. Daymark Wealth Partners LLC boosted its stake in shares of Mobileye Global by 10.9% in the 4th quarter. Daymark Wealth Partners LLC now owns 11,692 shares of the company’s stock valued at $233,000 after purchasing an additional 1,147 shares during the last quarter. Sanders Morris Harris LLC increased its position in shares of Mobileye Global by 100.0% during the fourth quarter. Sanders Morris Harris LLC now owns 40,000 shares of the company’s stock worth $801,000 after buying an additional 20,000 shares during the period. FNY Investment Advisers LLC bought a new position in Mobileye Global during the fourth quarter worth $30,000. Finally, Versant Capital Management Inc lifted its holdings in Mobileye Global by 580.0% in the fourth quarter. Versant Capital Management Inc now owns 1,326 shares of the company’s stock valued at $26,000 after buying an additional 1,131 shares during the period. 13.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MBLY. UBS Group lifted their price target on shares of Mobileye Global from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday. Mizuho upped their target price on Mobileye Global from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Evercore ISI decreased their target price on shares of Mobileye Global from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.00 price objective (down from $16.00) on shares of Mobileye Global in a research note on Monday, October 7th. Finally, Barclays cut their target price on Mobileye Global from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $23.81.

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.