Mobileye Global (NASDAQ:MBLY) Shares Gap Up – Here’s Why

Mobileye Global Inc. (NASDAQ:MBLY) shares gapped up before the market opened on Tuesday . The stock had previously closed at $15.67, but opened at $16.48. Mobileye Global shares last traded at $16.88, with a volume of 1,632,225 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MBLY shares. Evercore ISI dropped their price target on shares of Mobileye Global from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Mizuho boosted their price target on shares of Mobileye Global from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Robert W. Baird boosted their price target on shares of Mobileye Global from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. TD Cowen boosted their price target on shares of Mobileye Global from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, UBS Group downgraded Mobileye Global from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $20.00 to $14.00 in a report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $23.67.

Mobileye Global Price Performance

The stock has a 50-day moving average price of $17.83 and a 200 day moving average price of $16.85. The company has a market cap of $13.94 billion, a price-to-earnings ratio of -4.71, a price-to-earnings-growth ratio of 13.46 and a beta of 0.30.

Institutional Investors Weigh In On Mobileye Global

A number of hedge funds and other institutional investors have recently bought and sold shares of MBLY. Versant Capital Management Inc increased its position in shares of Mobileye Global by 580.0% during the 4th quarter. Versant Capital Management Inc now owns 1,326 shares of the company’s stock worth $26,000 after purchasing an additional 1,131 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Mobileye Global during the 4th quarter worth approximately $30,000. Rakuten Securities Inc. boosted its stake in shares of Mobileye Global by 140.2% during the 3rd quarter. Rakuten Securities Inc. now owns 1,818 shares of the company’s stock worth $25,000 after acquiring an additional 1,061 shares during the period. Quarry LP bought a new position in shares of Mobileye Global during the 3rd quarter worth approximately $31,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Mobileye Global by 1,019.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,819 shares of the company’s stock worth $107,000 after acquiring an additional 3,478 shares during the period. Institutional investors and hedge funds 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.