Mobileye Global (NASDAQ:MBLY) Shares Up 11.6% – Here’s Why

Shares of Mobileye Global Inc. (NASDAQ:MBLY) shot up 11.6% during trading on Thursday . The stock traded as high as $17.39 and last traded at $17.23. 6,240,565 shares traded hands during mid-day trading, an increase of 25% from the average session volume of 4,993,962 shares. The stock had previously closed at $15.44.

Wall Street Analyst Weigh In

Several research firms recently commented on MBLY. Barclays reduced their price target on shares of Mobileye Global from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday. The Goldman Sachs Group dropped their target price on shares of Mobileye Global from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Royal Bank of Canada cut shares of Mobileye Global from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $24.00 to $11.00 in a report on Tuesday, October 15th. Daiwa America cut shares of Mobileye Global from a “strong-buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, Needham & Company LLC dropped their target price on shares of Mobileye Global from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Mobileye Global has an average rating of “Hold” and a consensus price target of $23.20.

Mobileye Global Trading Up 6.9 %

The stock has a market capitalization of $13.36 billion, a PE ratio of -4.58 and a beta of 0.07. The company’s 50-day moving average is $12.85 and its 200 day moving average is $20.43.

Hedge Funds Weigh In On Mobileye Global

A number of institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. raised its position in Mobileye Global by 9.9% during the 1st quarter. Advisors Asset Management Inc. now owns 8,608 shares of the company’s stock worth $277,000 after buying an additional 774 shares during the last quarter. Rakuten Securities Inc. raised its position in 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. B. Riley Wealth Advisors Inc. raised its position in Mobileye Global by 24.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,299 shares of the company’s stock worth $203,000 after buying an additional 1,248 shares during the last quarter. Guinness Atkinson Asset Management Inc raised its position in Mobileye Global by 16.9% during the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 8,700 shares of the company’s stock worth $119,000 after buying an additional 1,257 shares during the last quarter. Finally, Levin Capital Strategies L.P. raised its position in Mobileye Global by 11.1% during the 2nd quarter. Levin Capital Strategies L.P. now owns 14,441 shares of the company’s stock worth $406,000 after buying an additional 1,441 shares during the last quarter. 13.25% of the stock is owned by hedge funds and other institutional investors.

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.