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

Mobileye Global Inc. (NASDAQ:MBLY) gapped down before the market opened on Friday . The stock had previously closed at $16.95, but opened at $15.94. Mobileye Global shares last traded at $15.64, with a volume of 2,477,792 shares.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MBLY shares. Needham & Company LLC restated a “buy” rating and issued a $20.00 target price on shares of Mobileye Global in a report on Wednesday, December 11th. Loop Capital raised their price target on Mobileye Global from $20.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. UBS Group cut Mobileye Global from a “buy” rating to a “neutral” rating and dropped their price target for the company from $20.00 to $14.00 in a research report on Friday, October 4th. TD Cowen lifted their price target on shares of Mobileye Global from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Robert W. Baird increased their price objective on shares of Mobileye Global from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.45.

Mobileye Global Price Performance

The firm has a market capitalization of $12.78 billion, a price-to-earnings ratio of -4.32 and a beta of 0.30. The firm’s fifty day moving average is $17.76 and its 200 day moving average is $17.24.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc lifted its holdings in shares of 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 buying an additional 1,131 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in 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 purchasing an additional 1,061 shares during the period. Quarry LP acquired a new position in shares of Mobileye Global during the third quarter valued at about $31,000. Cranbrook Wealth Management LLC acquired a new stake in Mobileye Global during the second quarter worth about $84,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Mobileye Global by 1,019.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,819 shares of the company’s stock valued at $107,000 after acquiring an additional 3,478 shares in the last quarter. Institutional investors and hedge funds 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.