Mobileye Global (NASDAQ:MBLY) Stock Price Up 10.1% – Here’s Why

Shares of Mobileye Global Inc. (NASDAQ:MBLY) were up 10.1% on Monday . The stock traded as high as $18.77 and last traded at $18.72. Approximately 3,315,488 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 5,110,034 shares. The stock had previously closed at $17.00.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MBLY. Mizuho upped their price target on Mobileye Global from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday. TD Cowen lifted their target price on shares of Mobileye Global from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada reissued a “sector perform” rating and set a $11.00 price target on shares of Mobileye Global in a report on Thursday, December 5th. Robert W. Baird lifted their price objective on Mobileye Global from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, UBS Group cut Mobileye Global from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $20.00 to $14.00 in a research 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. According to MarketBeat, Mobileye Global presently has an average rating of “Hold” and an average target price of $23.24.

Mobileye Global Trading Down 3.0 %

The firm has a market capitalization of $13.77 billion, a PE ratio of -4.65 and a beta of 0.43. The stock’s 50 day moving average price is $15.03 and its two-hundred day moving average price is $18.41.

Hedge Funds Weigh In On Mobileye Global

Institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its stake in Mobileye Global by 49.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,590,818 shares of the company’s stock valued at $186,194,000 after purchasing an additional 4,517,217 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Mobileye Global by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 2,347,269 shares of the company’s stock worth $65,923,000 after buying an additional 94,946 shares in the last quarter. Loomis Sayles & Co. L P raised its position in shares of Mobileye Global by 85.3% in the third quarter. Loomis Sayles & Co. L P now owns 1,668,331 shares of the company’s stock valued at $22,856,000 after buying an additional 768,169 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 valued at $20,909,000 after buying an additional 957,565 shares during the period. Finally, Geode Capital Management LLC boosted its position in Mobileye Global by 24.2% during the third quarter. Geode Capital Management LLC now owns 1,431,325 shares of the company’s stock worth $19,615,000 after acquiring an additional 279,082 shares during the last quarter. 13.25% of the stock is owned by institutional investors and hedge funds.

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.