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

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MBLY. Westpark Capital reaffirmed a “hold” rating on shares of Mobileye Global in a report on Wednesday, July 31st. Daiwa America lowered shares of Mobileye Global from a “strong-buy” rating to a “hold” rating in a report on Monday, August 5th. BNP Paribas lowered shares of Mobileye Global from a “neutral” rating to an “underperform” rating and set a $12.00 target price for the company. in a report on Wednesday, October 2nd. Morgan Stanley raised shares of Mobileye Global from an “underweight” rating to an “equal weight” rating and cut their target price for the company from $25.00 to $18.00 in a report on Friday, August 2nd. Finally, Daiwa Capital Markets lowered shares of Mobileye Global from a “buy” rating to a “neutral” rating in a report on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $23.20.

Mobileye Global Stock Performance

The firm’s 50-day moving average price is $12.85 and its two-hundred day moving average price is $20.43. The stock has a market cap of $13.36 billion, a price-to-earnings ratio of -4.58 and a beta of 0.07.

Institutional Trading of Mobileye Global

Several institutional investors and hedge funds have recently bought and sold shares of MBLY. Rakuten Securities Inc. raised its holdings in Mobileye Global by 140.2% in the 3rd quarter. Rakuten Securities Inc. now owns 1,818 shares of the company’s stock valued at $25,000 after buying an additional 1,061 shares during the period. Cranbrook Wealth Management LLC purchased a new stake in Mobileye Global during the second quarter worth about $84,000. Natixis Investment Managers International purchased a new stake in Mobileye Global during the first quarter worth about $99,000. Quest Partners LLC purchased a new stake in Mobileye Global during the third quarter worth about $102,000. Finally, EverSource Wealth Advisors LLC increased its stake in Mobileye Global by 1,019.9% during the second quarter. EverSource Wealth Advisors LLC now owns 3,819 shares of the company’s stock worth $107,000 after purchasing an additional 3,478 shares during the period. 13.25% of the stock is currently 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.