Mobileye Global (NASDAQ:MBLY) Stock Price Up 11.6% – Should You Buy?

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

Analysts Set New Price Targets

MBLY has been the topic of a number of recent analyst reports. Evercore ISI lowered their price target on shares of Mobileye Global from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $15.00 price target on shares of Mobileye Global in a report on Tuesday, September 10th. The Goldman Sachs Group lowered their price target on shares of Mobileye Global from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Daiwa America downgraded shares of Mobileye Global from a “strong-buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, Canaccord Genuity Group lowered their price target on shares of Mobileye Global from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $23.20.

Mobileye Global Price Performance

The company’s 50 day moving average price is $12.94 and its two-hundred day moving average price is $20.31. The stock has a market capitalization of $13.34 billion, a PE ratio of -4.51 and a beta of 0.07.

Hedge Funds Weigh In On Mobileye Global

Several hedge funds and other institutional investors have recently modified their holdings of MBLY. Rakuten Securities Inc. lifted its stake 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 worth $25,000 after buying an additional 1,061 shares in the last quarter. Cranbrook Wealth Management LLC acquired a new stake in Mobileye Global during the second quarter worth about $84,000. Natixis Investment Managers International acquired a new stake in Mobileye Global during the first quarter worth about $99,000. Quest Partners LLC acquired a new stake in Mobileye Global during the third quarter worth about $102,000. Finally, EverSource Wealth Advisors LLC increased its position 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 last quarter. 13.25% of the stock is owned by hedge funds and other 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.