HITE Hedge Asset Management LLC Makes New $2.19 Million Investment in Mobileye Global Inc. $MBLY

HITE Hedge Asset Management LLC acquired a new stake in Mobileye Global Inc. (NASDAQ:MBLY) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 155,109 shares of the company’s stock, valued at approximately $2,190,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MBLY. MAI Capital Management lifted its position in shares of Mobileye Global by 22.2% during the 3rd quarter. MAI Capital Management now owns 4,400 shares of the company’s stock worth $62,000 after purchasing an additional 800 shares during the last quarter. Sei Investments Co. increased its holdings in Mobileye Global by 2.5% in the second quarter. Sei Investments Co. now owns 45,080 shares of the company’s stock valued at $811,000 after buying an additional 1,090 shares during the last quarter. Cresset Asset Management LLC raised its stake in Mobileye Global by 6.3% in the third quarter. Cresset Asset Management LLC now owns 18,819 shares of the company’s stock valued at $266,000 after buying an additional 1,110 shares in the last quarter. Country Club Bank raised its stake in Mobileye Global by 0.8% in the third quarter. Country Club Bank now owns 144,803 shares of the company’s stock valued at $2,048,000 after buying an additional 1,188 shares in the last quarter. Finally, Perigon Wealth Management LLC lifted its holdings in Mobileye Global by 5.7% during the 3rd quarter. Perigon Wealth Management LLC now owns 22,164 shares of the company’s stock worth $313,000 after buying an additional 1,205 shares during the last quarter. 13.25% of the stock is currently owned by institutional investors and hedge funds.

Mobileye Global Stock Performance

Mobileye Global stock opened at $7.59 on Friday. The company has a market capitalization of $6.39 billion, a P/E ratio of -15.49 and a beta of 0.59. Mobileye Global Inc. has a fifty-two week low of $7.57 and a fifty-two week high of $20.18. The stock has a 50-day simple moving average of $9.54 and a 200-day simple moving average of $11.74.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings results on Thursday, January 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. Mobileye Global had a positive return on equity of 0.21% and a negative net margin of 20.70%.The firm had revenue of $446.00 million for the quarter, compared to the consensus estimate of $430.69 million. During the same quarter last year, the business posted $0.13 EPS. The firm’s quarterly revenue was down 9.0% compared to the same quarter last year. As a group, analysts forecast that Mobileye Global Inc. will post 0.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Morgan Stanley dropped their price objective on Mobileye Global from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, January 23rd. The Goldman Sachs Group decreased their target price on Mobileye Global from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, November 26th. Zacks Research downgraded Mobileye Global from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. Canaccord Genuity Group dropped their price target on shares of Mobileye Global from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Friday, January 23rd. Finally, Wells Fargo & Company cut their price objective on shares of Mobileye Global from $24.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $15.89.

About Mobileye Global

Mobileye Global Inc (NASDAQ: MBLY) is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye’s core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.

Founded in 1999 by Prof.