Mobileye Global (NASDAQ:MBLY) Trading 2.1% Higher – Here’s Why

Mobileye Global Inc. (NASDAQ:MBLY)’s stock price shot up 2.1% on Friday . The company traded as high as $19.89 and last traded at $19.88. 2,977,792 shares traded hands during trading, a decline of 43% from the average session volume of 5,209,533 shares. The stock had previously closed at $19.47.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MBLY shares. BNP Paribas downgraded shares of Mobileye Global from a “neutral” rating to an “underperform” rating and set a $12.00 target price on the stock. in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $15.00 price objective on shares of Mobileye Global in a research report on Tuesday, September 10th. Robert W. Baird increased their target price 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. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.00 target price (down from $16.00) on shares of Mobileye Global in a research note on Monday, October 7th. Finally, UBS Group lowered Mobileye Global from a “buy” rating to a “neutral” rating and lowered their price target for the company from $20.00 to $14.00 in a research report on Friday, October 4th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $23.38.

Mobileye Global Price Performance

The firm has a market cap of $16.25 billion, a P/E ratio of -5.49 and a beta of 0.44. The firm’s 50 day moving average is $16.55 and its 200 day moving average is $17.65.

Institutional Trading of Mobileye Global

Hedge funds have recently made changes to their positions in the stock. BCGM Wealth Management LLC raised its stake in Mobileye Global by 178.0% during the third quarter. BCGM Wealth Management LLC now owns 190,595 shares of the company’s stock valued at $2,611,000 after buying an additional 122,031 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Mobileye Global by 168.4% during the third 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 in the last quarter. AXA S.A. raised its position in shares of Mobileye Global by 35.6% in the 2nd quarter. AXA S.A. now owns 518,076 shares of the company’s stock worth $14,550,000 after purchasing an additional 135,967 shares during the last quarter. PFG Investments LLC bought a new position in Mobileye Global in the 3rd quarter worth about $635,000. Finally, Select Equity Group L.P. grew its position in Mobileye Global by 74.6% during the 2nd quarter. Select Equity Group L.P. now owns 237,137 shares of the company’s stock valued at $6,660,000 after purchasing an additional 101,350 shares during the last quarter. 13.25% of the stock is owned by institutional investors.

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.