Mobileye Global (NASDAQ:MBLY) Shares Gap Up Following Analyst Upgrade

Mobileye Global Inc. (NASDAQ:MBLY)’s share price gapped up prior to trading on Monday after Mizuho raised their price target on the stock from $13.00 to $15.00. The stock had previously closed at $14.99, but opened at $16.18. Mizuho currently has a neutral rating on the stock. Mobileye Global shares last traded at $16.09, with a volume of 3,095,087 shares trading hands.

MBLY has been the topic of a number of other reports. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.00 target price (down from $16.00) on shares of Mobileye Global in a research report on Monday, October 7th. Daiwa Capital Markets downgraded Mobileye Global from a “buy” rating to a “neutral” rating in a research note on Monday, August 5th. The Goldman Sachs Group reduced their price objective on Mobileye Global from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Wolfe Research downgraded Mobileye Global from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. Finally, Canaccord Genuity Group dropped their price target on Mobileye Global from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Mobileye Global presently has an average rating of “Hold” and a consensus price target of $23.14.

Institutional Investors Weigh In On Mobileye Global

A number of large investors have recently added to or reduced their stakes in MBLY. Rakuten Securities Inc. raised its position in shares of Mobileye Global by 140.2% in the third quarter. Rakuten Securities Inc. now owns 1,818 shares of the company’s stock valued at $25,000 after purchasing an additional 1,061 shares during the period. Quarry LP bought a new stake in shares of Mobileye Global in the third quarter valued at about $31,000. Cranbrook Wealth Management LLC acquired a new position in shares of Mobileye Global in the second quarter valued at about $84,000. Natixis Investment Managers International bought a new position in Mobileye Global during the first quarter worth about $99,000. Finally, EverSource Wealth Advisors LLC raised its stake in Mobileye Global by 1,019.9% in the 2nd 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 in the last quarter. Institutional investors own 13.25% of the company’s stock.

Mobileye Global Trading Up 11.7 %

The stock’s 50-day simple moving average is $13.26 and its 200-day simple moving average is $19.71. The stock has a market cap of $13.59 billion, a price-to-earnings ratio of -4.59 and a beta of 0.07.

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.