Short Interest in Mobileye Global Inc. (NASDAQ:MBLY) Decreases By 18.7%

Mobileye Global Inc. (NASDAQ:MBLY) was the recipient of a large decrease in short interest in the month of January. As of January 15th, there was short interest totalling 18,270,000 shares, a decrease of 18.7% from the December 31st total of 22,460,000 shares. Currently, 19.7% of the shares of the company are sold short. Based on an average daily volume of 7,070,000 shares, the days-to-cover ratio is currently 2.6 days.

Mobileye Global Stock Up 0.7 %

MBLY stock traded up $0.12 during mid-day trading on Thursday, hitting $16.13. The company had a trading volume of 9,537,601 shares, compared to its average volume of 7,751,086. The company has a 50-day moving average price of $17.82 and a 200 day moving average price of $16.09. Mobileye Global has a 12-month low of $10.48 and a 12-month high of $34.00. The company has a market capitalization of $13.08 billion, a price-to-earnings ratio of -4.42, a P/E/G ratio of 11.65 and a beta of 0.30.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.08). Mobileye Global had a negative net margin of 164.13% and a positive return on equity of 0.63%. As a group, analysts expect that Mobileye Global will post -0.05 EPS for the current year.

Institutional Trading of Mobileye Global

Several institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace LLP grew its position in shares of Mobileye Global by 106.8% during the 2nd quarter. Marshall Wace LLP now owns 154,457 shares of the company’s stock worth $4,339,000 after buying an additional 79,752 shares in the last quarter. Coronation Fund Managers Ltd. bought a new stake in shares of Mobileye Global in the 2nd quarter valued at about $4,567,000. Green Alpha Advisors LLC lifted its position in shares of Mobileye Global by 54.2% in the 3rd quarter. Green Alpha Advisors LLC now owns 27,829 shares of the company’s stock worth $381,000 after purchasing an additional 9,777 shares during the period. Daymark Wealth Partners LLC purchased a new position in Mobileye Global during the third quarter valued at approximately $144,000. Finally, Sanders Morris Harris LLC bought a new position in Mobileye Global in the third quarter worth approximately $274,000. 13.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MBLY has been the topic of a number of research reports. Wolfe Research raised shares of Mobileye Global from a “peer perform” rating to an “outperform” rating in a report on Thursday, December 5th. Evercore ISI cut their target price on Mobileye Global from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Mizuho increased their target price on shares of Mobileye Global from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Robert W. Baird boosted their price target on shares of Mobileye Global from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $11.00 price target on shares of Mobileye Global in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $23.20.

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.