Short Interest in Mobileye Global Inc. (NASDAQ:MBLY) Declines By 18.7%

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

Institutional Trading of Mobileye Global

Several institutional investors and hedge funds have recently bought and sold shares of MBLY. Rakuten Securities Inc. lifted 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 buying an additional 1,061 shares during the last quarter. Versant Capital Management Inc raised 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 acquiring an additional 1,131 shares during the period. Daymark Wealth Partners LLC lifted its position in Mobileye Global by 10.9% during the fourth quarter. Daymark Wealth Partners LLC now owns 11,692 shares of the company’s stock worth $233,000 after acquiring an additional 1,147 shares during the last quarter. Guinness Atkinson Asset Management Inc boosted its holdings in shares of 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. Finally, FNY Investment Advisers LLC bought a new position in shares of Mobileye Global during the fourth quarter worth approximately $30,000. Institutional investors own 13.25% of the company’s stock.

Mobileye Global Stock Down 3.0 %

Shares of NASDAQ MBLY traded down $0.49 during trading hours on Friday, hitting $16.02. The company had a trading volume of 6,358,060 shares, compared to its average volume of 6,754,333. Mobileye Global has a 1-year low of $10.48 and a 1-year high of $34.00. The firm’s 50 day moving average is $17.82 and its 200-day moving average is $16.69. The stock has a market capitalization of $12.99 billion, a P/E ratio of -4.39, a price-to-earnings-growth ratio of 13.46 and a beta of 0.30.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MBLY. Royal Bank of Canada restated a “sector perform” rating and issued a $11.00 price objective on shares of Mobileye Global in a report on Thursday, December 5th. Barclays cut their price target on Mobileye Global from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $10.00 price objective (down from $16.00) on shares of Mobileye Global in a research note on Monday, October 7th. Wolfe Research upgraded Mobileye Global from a “peer perform” rating to an “outperform” rating in a report on Thursday, December 5th. Finally, Mizuho raised their target price on Mobileye Global from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $23.81.

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.