Mobileye Global (NASDAQ:MBLY) Trading Down 9.5% – Here’s What Happened

Mobileye Global Inc. (NASDAQ:MBLY) fell 9.5% on Tuesday . The stock traded as low as $19.64 and last traded at $19.77. 8,741,783 shares changed hands during trading, an increase of 7% from the average session volume of 8,169,862 shares. The stock had previously closed at $21.85.

Analysts Set New Price Targets

Several analysts recently commented on MBLY shares. Evercore ISI cut their price objective on Mobileye Global from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Wolfe Research raised shares of Mobileye Global from a “peer perform” rating to an “outperform” rating in a report on Thursday, December 5th. Robert W. Baird increased their price target on shares of Mobileye Global from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $15.00 price objective on shares of Mobileye Global in a research note on Tuesday, September 10th. Finally, Barclays lowered their target price on Mobileye Global from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Mobileye Global presently has an average rating of “Hold” and a consensus price target of $23.45.

Mobileye Global Stock Down 10.5 %

The company has a fifty day moving average price of $17.48 and a 200-day moving average price of $17.29. The stock has a market capitalization of $15.86 billion, a P/E ratio of -5.36 and a beta of 0.30.

Institutional Investors Weigh In On Mobileye Global

Large investors have recently bought and sold shares of the business. Rakuten Securities Inc. lifted its position in Mobileye Global by 140.2% in the third 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. Versant Capital Management Inc boosted its stake in shares of 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 purchasing an additional 1,131 shares during the period. Quarry LP bought a new position in Mobileye Global during the 3rd quarter valued at about $31,000. Cranbrook Wealth Management LLC bought a new stake in Mobileye Global in the second quarter worth about $84,000. Finally, Quest Partners LLC purchased a new position in shares of Mobileye Global during the third quarter valued at approximately $102,000. 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.