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

Mobileye Global Inc. (NASDAQ:MBLY)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $16.07, but opened at $18.49. Mobileye Global shares last traded at $18.96, with a volume of 2,887,712 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MBLY. UBS Group boosted their price target on shares of Mobileye Global from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. TD Cowen boosted their price target on shares of Mobileye Global from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Mobileye Global in a research note on Friday, January 31st. Barclays lifted their price objective on shares of Mobileye Global from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, The Goldman Sachs Group lowered their price objective on shares of Mobileye Global from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $22.86.

Mobileye Global Trading Down 4.3 %

The company’s fifty day simple moving average is $17.58 and its 200 day simple moving average is $15.54.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.08). Mobileye Global had a negative net margin of 186.82% and a negative return on equity of 0.33%. As a group, equities research analysts anticipate that Mobileye Global Inc. will post 0.03 EPS for the current year.

Institutional Investors Weigh In On Mobileye Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its position in shares of Mobileye Global by 49.8% in the third quarter. The Manufacturers Life Insurance Company now owns 13,590,818 shares of the company’s stock worth $186,194,000 after purchasing an additional 4,517,217 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Mobileye Global by 168.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,526,234 shares of the company’s stock worth $20,909,000 after purchasing an additional 957,565 shares during the last quarter. Loomis Sayles & Co. L P increased its position in shares of Mobileye Global by 85.3% in the third quarter. Loomis Sayles & Co. L P now owns 1,668,331 shares of the company’s stock worth $22,856,000 after purchasing an additional 768,169 shares during the last quarter. Yiheng Capital Management L.P. bought a new position in shares of Mobileye Global in the fourth quarter worth approximately $14,940,000. Finally, Raymond James Financial Inc. bought a new position in shares of Mobileye Global in the fourth quarter worth approximately $13,786,000. 13.25% of the stock is currently 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.