Norges Bank Acquires New Shares in Mobileye Global Inc. (NASDAQ:MBLY)

Norges Bank bought a new position in shares of Mobileye Global Inc. (NASDAQ:MBLY) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 4,816,135 shares of the company’s stock, valued at approximately $95,937,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust raised its position in shares of Mobileye Global by 147.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,237 shares of the company’s stock worth $25,000 after purchasing an additional 737 shares during the period. Versant Capital Management Inc raised its holdings in Mobileye Global by 580.0% during the 4th quarter. Versant Capital Management Inc now owns 1,326 shares of the company’s stock worth $26,000 after buying an additional 1,131 shares during the period. FNY Investment Advisers LLC bought a new position in Mobileye Global in the fourth quarter valued at approximately $30,000. Quarry LP bought a new stake in Mobileye Global in the 3rd quarter valued at $31,000. Finally, Global Retirement Partners LLC boosted its position in shares of Mobileye Global by 136.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,613 shares of the company’s stock worth $32,000 after buying an additional 932 shares during the period. 13.25% of the stock is currently owned by institutional investors.

Mobileye Global Stock Performance

NASDAQ:MBLY opened at $14.49 on Wednesday. The firm has a market cap of $11.75 billion, a price-to-earnings ratio of -3.79, a P/E/G ratio of 69.54 and a beta of 0.29. Mobileye Global Inc. has a 52 week low of $10.48 and a 52 week high of $34.00. The firm’s 50-day simple moving average is $15.99 and its 200 day simple moving average is $15.85.

Mobileye Global (NASDAQ:MBLY) last announced its earnings results on Thursday, January 30th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.08). Mobileye Global had a negative return on equity of 0.34% and a negative net margin of 186.82%. Sell-side analysts anticipate that Mobileye Global Inc. will post 0.01 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on MBLY shares. UBS Group boosted their price target on shares of Mobileye Global from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Bank of America upgraded Mobileye Global from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $12.00 to $19.00 in a report on Monday, February 10th. Loop Capital raised their price target on Mobileye Global from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Barclays upped their price objective on Mobileye Global from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Oppenheimer began coverage on shares of Mobileye Global in a research note on Wednesday, January 15th. They issued an “outperform” rating and a $28.00 target price for the company. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.24.

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.