Mobileye Global (NASDAQ:MBLY) Trading Down 4.7% – Should You Sell?

Mobileye Global Inc. (NASDAQ:MBLY)’s share price was down 4.7% on Thursday . The company traded as low as $16.15 and last traded at $16.49. Approximately 985,826 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 5,027,595 shares. The stock had previously closed at $17.31.

Analyst Ratings Changes

A number of analysts recently weighed in on MBLY shares. Loop Capital started coverage on Mobileye Global in a research note on Tuesday. They issued a “buy” rating and a $20.00 price target on the stock. Evercore ISI decreased their price target on Mobileye Global from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Mizuho downgraded Mobileye Global from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $30.00 to $13.00 in a research note on Friday, October 11th. Fox Advisors downgraded Mobileye Global from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird boosted their target price on Mobileye Global from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $23.05.

Mobileye Global Stock Performance

The firm has a market capitalization of $12.16 billion, a PE ratio of -4.11 and a beta of 0.07. The firm has a fifty day moving average of $13.26 and a 200 day moving average of $19.83.

Institutional Investors Weigh In On Mobileye Global

Several hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its holdings in shares of Mobileye Global by 49.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,590,818 shares of the company’s stock valued at $186,194,000 after buying an additional 4,517,217 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Mobileye Global by 807.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,073,601 shares of the company’s stock valued at $254,832,000 after acquiring an additional 8,073,552 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Mobileye Global by 4.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,347,269 shares of the company’s stock valued at $65,923,000 after acquiring an additional 94,946 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Mobileye Global by 5,308.1% in the 1st quarter. 1832 Asset Management L.P. now owns 2,206,500 shares of the company’s stock valued at $70,939,000 after acquiring an additional 2,165,700 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new stake in shares of Mobileye Global in the 1st quarter valued at approximately $69,638,000. 13.25% of the stock is currently owned by hedge funds and other institutional investors.

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.