Mobileye Global (NASDAQ:MBLY) Stock Price Down 8.9% – Here’s What Happened

Shares of Mobileye Global Inc. (NASDAQ:MBLY) fell 8.9% on Wednesday . The stock traded as low as $17.67 and last traded at $17.90. 5,753,279 shares changed hands during trading, an increase of 11% from the average session volume of 5,202,554 shares. The stock had previously closed at $19.64.

Wall Street Analyst Weigh In

Several research firms have weighed in on MBLY. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $10.00 target price (down from $16.00) on shares of Mobileye Global in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $15.00 price target on shares of Mobileye Global in a report on Tuesday, September 10th. Barclays cut their price target on Mobileye Global from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $11.00 price target on shares of Mobileye Global in a report on Thursday, December 5th. Finally, Canaccord Genuity Group cut their price target on Mobileye Global from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Three investment 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $23.38.

Mobileye Global Price Performance

The firm has a 50-day moving average price of $15.58 and a 200 day moving average price of $18.14. The company has a market cap of $14.07 billion, a price-to-earnings ratio of -4.75 and a beta of 0.44.

Hedge Funds Weigh In On Mobileye Global

Institutional investors and hedge funds have recently made changes to their positions in the company. BCGM Wealth Management LLC grew its position in shares of Mobileye Global by 178.0% in the third quarter. BCGM Wealth Management LLC now owns 190,595 shares of the company’s stock valued at $2,611,000 after purchasing an additional 122,031 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Mobileye Global by 168.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,526,234 shares of the company’s stock worth $20,909,000 after purchasing an additional 957,565 shares during the last quarter. Raymond James & Associates lifted its stake in Mobileye Global by 258.7% during the second quarter. Raymond James & Associates now owns 336,417 shares of the company’s stock worth $9,448,000 after purchasing an additional 242,640 shares during the last quarter. AXA S.A. lifted its stake in Mobileye Global by 35.6% during the second quarter. AXA S.A. now owns 518,076 shares of the company’s stock worth $14,550,000 after purchasing an additional 135,967 shares during the last quarter. Finally, PFG Investments LLC bought a new stake in Mobileye Global during the third quarter worth $635,000. 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.