Mobileye Global (NASDAQ:MBLY) Shares Up 8.1% on Analyst Upgrade

Mobileye Global Inc. (NASDAQ:MBLY) shares shot up 8.1% during trading on Friday after TD Cowen raised their price target on the stock from $15.00 to $19.00. TD Cowen currently has a buy rating on the stock. Mobileye Global traded as high as $14.85 and last traded at $14.71. 2,114,686 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 4,883,963 shares. The stock had previously closed at $13.61.

Several other equities analysts have also issued reports on the company. UBS Group lowered Mobileye Global from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $20.00 to $14.00 in a research report on Friday, October 4th. Fox Advisors lowered shares of Mobileye Global from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. Mizuho lowered Mobileye Global from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $30.00 to $13.00 in a research report on Friday, October 11th. Royal Bank of Canada downgraded shares of Mobileye Global from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $24.00 to $11.00 in a report on Tuesday, October 15th. Finally, The Goldman Sachs Group reduced their price objective on shares of Mobileye Global from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $23.25.

Insiders Place Their Bets

In other news, Director Patrick P. Gelsinger acquired 6,400 shares of Mobileye Global stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $15.48 per share, for a total transaction of $99,072.00. Following the completion of the acquisition, the director now directly owns 139,106 shares in the company, valued at approximately $2,153,360.88. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Mobileye Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cranbrook Wealth Management LLC acquired a new position in Mobileye Global in the second quarter valued at about $84,000. Natixis Investment Managers International bought a new stake in shares of Mobileye Global during the 1st quarter worth approximately $99,000. EverSource Wealth Advisors LLC boosted its position in shares of Mobileye Global by 1,019.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,819 shares of the company’s stock worth $107,000 after acquiring an additional 3,478 shares in the last quarter. Guinness Atkinson Asset Management Inc increased its stake in Mobileye Global by 16.9% in the third quarter. Guinness Atkinson Asset Management Inc now owns 8,700 shares of the company’s stock valued at $119,000 after acquiring an additional 1,257 shares during the last quarter. Finally, Avitas Wealth Management LLC acquired a new position in Mobileye Global during the third quarter valued at approximately $137,000. 13.25% of the stock is owned by institutional investors and hedge funds.

Mobileye Global Stock Up 14.4 %

The firm has a 50 day simple moving average of $12.77 and a two-hundred day simple moving average of $20.82. The stock has a market capitalization of $12.60 billion, a P/E ratio of -55.61 and a beta of 0.08.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $439.00 million for the quarter, compared to analyst estimates of $424.34 million. Mobileye Global had a positive return on equity of 1.32% and a negative net margin of 12.14%. Mobileye Global’s revenue was down 3.3% compared to the same quarter last year. During the same period last year, the firm posted $0.11 earnings per share. On average, research analysts predict that Mobileye Global Inc. will post -0.06 earnings per share for the current year.

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.