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

Mobileye Global Inc. (NASDAQ:MBLY) 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 trading hands.

Analyst Ratings Changes

A number of brokerages have commented on MBLY. Bank of America upgraded shares of Mobileye Global from an “underperform” rating to a “neutral” rating and increased their price target for the company from $12.00 to $19.00 in a research report on Monday. Royal Bank of Canada reissued a “sector perform” rating and set a $11.00 price objective on shares of Mobileye Global in a research note on Thursday, December 5th. Needham & Company LLC reissued a “buy” rating and set a $20.00 price objective on shares of Mobileye Global in a research note on Friday, January 31st. The Goldman Sachs Group dropped their price objective on Mobileye Global from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, TD Cowen increased their price objective on Mobileye Global from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $22.86.

Mobileye Global Trading Down 4.3 %

The firm has a 50-day simple moving average of $17.58 and a 200 day simple moving average of $15.54.

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

Institutional Investors Weigh In On Mobileye Global

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust increased its position in shares of Mobileye Global by 147.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,237 shares of the company’s stock valued at $25,000 after purchasing an additional 737 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Mobileye Global by 580.0% during the 4th quarter. Versant Capital Management Inc now owns 1,326 shares of the company’s stock valued at $26,000 after acquiring an additional 1,131 shares during the period. FNY Investment Advisers LLC bought a new position in shares of Mobileye Global during the 4th quarter valued at approximately $30,000. Global Retirement Partners LLC grew its stake in shares of Mobileye Global by 136.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,613 shares of the company’s stock valued at $32,000 after acquiring an additional 932 shares during the period. Finally, Rakuten Securities Inc. grew its stake in shares of Mobileye Global by 140.2% during the 3rd quarter. Rakuten Securities Inc. now owns 1,818 shares of the company’s stock valued at $25,000 after acquiring an additional 1,061 shares during the period. Hedge funds and other institutional investors own 13.25% of the company’s stock.

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.