Mobileye Global Inc. (NASDAQ:MBLY) Short Interest Down 18.7% in December

Mobileye Global Inc. (NASDAQ:MBLY) saw a large drop in short interest during 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. Approximately 19.7% of the shares of the company are short sold. Based on an average daily trading volume, of 7,070,000 shares, the days-to-cover ratio is presently 2.6 days.

Institutional Trading of Mobileye Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rakuten Securities Inc. grew its holdings in shares of Mobileye Global by 140.2% in 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 during the period. Versant Capital Management Inc boosted its holdings in Mobileye Global by 580.0% in the 4th quarter. Versant Capital Management Inc now owns 1,326 shares of the company’s stock valued at $26,000 after purchasing an additional 1,131 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Mobileye Global in the 4th quarter valued at approximately $30,000. Quarry LP acquired a new stake in shares of Mobileye Global during the 3rd quarter worth approximately $31,000. Finally, Quest Partners LLC purchased a new stake in shares of Mobileye Global during the 3rd quarter valued at approximately $102,000. 13.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MBLY has been the subject of a number of recent research reports. Barclays reduced their price objective 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. Loop Capital lifted their price target on Mobileye Global from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Mizuho upped their price objective on Mobileye Global from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Canaccord Genuity Group cut their target price on shares of Mobileye Global from $27.00 to $25.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Robert W. Baird boosted their target price on shares of Mobileye Global from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $23.81.

Mobileye Global Stock Performance

NASDAQ:MBLY opened at $16.51 on Friday. Mobileye Global has a one year low of $10.48 and a one year high of $34.00. The stock has a market cap of $13.39 billion, a PE ratio of -4.52, a P/E/G ratio of 13.46 and a beta of 0.30. The stock has a 50 day moving average price of $17.83 and a 200 day moving average price of $16.84.

Mobileye Global Company Profile

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.