Mobileye Global (NASDAQ:MBLY) Trading Up 5.2% – Should You Buy?

Mobileye Global Inc. (NASDAQ:MBLY)’s share price traded up 5.2% on Friday . The stock traded as high as $21.32 and last traded at $21.06. 988,450 shares changed hands during trading, a decline of 72% from the average session volume of 3,468,488 shares. The stock had previously closed at $20.02.

Analyst Ratings Changes

Several brokerages have commented on MBLY. Barclays lowered their target price on shares of Mobileye Global from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Mizuho upped their price objective on shares of Mobileye Global from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $15.00 target price on shares of Mobileye Global in a report on Tuesday, September 10th. The Goldman Sachs Group dropped their price target on Mobileye Global from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $10.00 target price (down from $16.00) on shares of Mobileye Global in a research note on Monday, October 7th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $23.45.

Mobileye Global Price Performance

The company’s 50-day simple moving average is $17.30 and its 200-day simple moving average is $17.38. The stock has a market capitalization of $17.60 billion, a P/E ratio of -5.95 and a beta of 0.30.

Hedge Funds Weigh In On Mobileye Global

Hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its position in shares of Mobileye Global by 807.3% in the second quarter. The Manufacturers Life Insurance Company now owns 9,073,601 shares of the company’s stock valued at $254,832,000 after purchasing an additional 8,073,552 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Mobileye Global by 168.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,526,234 shares of the company’s stock valued at $20,909,000 after acquiring an additional 957,565 shares during the period. Loomis Sayles & Co. L P lifted its position in Mobileye Global by 85.3% during the third quarter. Loomis Sayles & Co. L P now owns 1,668,331 shares of the company’s stock worth $22,856,000 after acquiring an additional 768,169 shares during the last quarter. Tremblant Capital Group bought a new stake in shares of Mobileye Global during the second quarter worth approximately $15,663,000. Finally, Melqart Asset Management UK Ltd acquired a new position in shares of Mobileye Global in the third quarter valued at approximately $4,978,000. Institutional investors own 13.25% of the company’s stock.

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.