Mobileye Global (NASDAQ:MBLY) Trading 5.2% Higher – Here’s What Happened

Mobileye Global Inc. (NASDAQ:MBLY)’s stock price rose 5.2% during trading on Friday . The company traded as high as $21.32 and last traded at $21.06. Approximately 988,450 shares traded hands during trading, a decline of 72% from the average daily volume of 3,468,488 shares. The stock had previously closed at $20.02.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. TD Cowen raised their price target on shares of Mobileye Global from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. restated an “underweight” rating and issued a $10.00 price target (down previously from $16.00) on shares of Mobileye Global in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $15.00 price objective on shares of Mobileye Global in a research report on Tuesday, September 10th. Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of Mobileye Global in a report on Wednesday, December 11th. Finally, UBS Group downgraded Mobileye Global from a “buy” rating to a “neutral” rating and lowered their price target for the company from $20.00 to $14.00 in a report on Friday, October 4th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $23.38.

Mobileye Global Stock Performance

The stock has a market cap of $17.62 billion, a P/E ratio of -5.95 and a beta of 0.30. The stock has a fifty day simple moving average of $17.12 and a 200-day simple moving average of $17.48.

Hedge Funds Weigh In On Mobileye Global

Hedge funds have recently made changes to their positions in the business. Rakuten Securities Inc. grew its stake 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 buying an additional 1,061 shares in the last quarter. Versant Capital Management Inc grew 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 buying an additional 1,131 shares in the last quarter. Guinness Atkinson Asset Management Inc increased its position in Mobileye Global by 16.9% during the third quarter. Guinness Atkinson Asset Management Inc now owns 8,700 shares of the company’s stock worth $119,000 after acquiring an additional 1,257 shares during the period. Levin Capital Strategies L.P. grew its position in Mobileye Global by 11.1% during the second quarter. Levin Capital Strategies L.P. now owns 14,441 shares of the company’s stock worth $406,000 after buying an additional 1,441 shares in the last quarter. Finally, Tidal Investments LLC increased its position in shares of Mobileye Global by 4.6% in the third quarter. Tidal Investments LLC now owns 36,586 shares of the company’s stock worth $501,000 after purchasing an additional 1,617 shares during the period. 13.25% of the stock is owned by institutional investors.

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.