Mobileye Global (NASDAQ:MBLY) Shares Gap Down – Here’s What Happened

Mobileye Global Inc. (NASDAQ:MBLY)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $16.71, but opened at $16.33. Mobileye Global shares last traded at $16.17, with a volume of 589,212 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have commented on MBLY shares. Mizuho raised their price target on shares of Mobileye Global from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.00 price target (down previously from $16.00) on shares of Mobileye Global in a research note on Monday, October 7th. UBS Group raised their price target on shares of Mobileye Global from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Mobileye Global in a research note on Wednesday, December 11th. Finally, Robert W. Baird raised their price target on shares of Mobileye Global from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $23.20.

Mobileye Global Stock Performance

The stock has a fifty day simple moving average of $17.84 and a 200-day simple moving average of $16.09. The stock has a market cap of $12.94 billion, a P/E ratio of -4.41, a PEG ratio of 11.65 and a beta of 0.30.

Hedge Funds Weigh In On Mobileye Global

Several hedge funds have recently modified their holdings of the stock. Rakuten Securities Inc. grew its holdings in shares of Mobileye Global by 140.2% in the 3rd quarter. Rakuten Securities Inc. now owns 1,818 shares of the company’s stock valued at $25,000 after acquiring an additional 1,061 shares in the last quarter. Versant Capital Management Inc grew its holdings in Mobileye Global by 580.0% during the fourth quarter. Versant Capital Management Inc now owns 1,326 shares of the company’s stock worth $26,000 after purchasing an additional 1,131 shares during the period. Daymark Wealth Partners LLC grew its holdings 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 purchasing an additional 1,147 shares during the period. Guinness Atkinson Asset Management Inc grew its holdings 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 purchasing an additional 1,257 shares during the period. Finally, FNY Investment Advisers LLC bought a new position in Mobileye Global during the fourth quarter worth about $30,000. Institutional investors 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.