Mobileye Global (NASDAQ:MBLY) Sees Strong Trading Volume

Mobileye Global Inc. (NASDAQ:MBLY) saw unusually-high trading volume on Thursday . Approximately 4,563,889 shares were traded during trading, an increase of 1% from the previous session’s volume of 4,530,806 shares.The stock last traded at $13.50 and had previously closed at $11.61.

Analyst Upgrades and Downgrades

MBLY has been the subject of several recent analyst reports. Daiwa America cut shares of Mobileye Global from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $15.00 price objective on shares of Mobileye Global in a research report on Tuesday, September 10th. Hsbc Global Res raised shares of Mobileye Global to a “strong-buy” rating in a research note on Monday, July 15th. Robert W. Baird lowered their price target on shares of Mobileye Global from $40.00 to $29.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Morgan Stanley upgraded shares of Mobileye Global from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $25.00 to $18.00 in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.81.

Mobileye Global Price Performance

The firm’s fifty day simple moving average is $17.08 and its 200 day simple moving average is $24.71. The company has a market capitalization of $11.03 billion, a price-to-earnings ratio of -63.24 and a beta of 0.08.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. Mobileye Global had a positive return on equity of 1.32% and a negative net margin of 12.14%. The business had revenue of $439.00 million during the quarter, compared to analyst estimates of $424.34 million. During the same period in the previous year, the company earned $0.11 EPS. The firm’s revenue was down 3.3% on a year-over-year basis. Equities research analysts forecast that Mobileye Global Inc. will post -0.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mobileye Global news, Director Patrick P. Gelsinger bought 6,400 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $15.48 per share, for a total transaction of $99,072.00. Following the purchase, the director now directly owns 139,106 shares in the company, valued at $2,153,360.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Patrick P. Gelsinger bought 6,400 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $15.48 per share, for a total transaction of $99,072.00. Following the transaction, the director now directly owns 139,106 shares of the company’s stock, valued at $2,153,360.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Amnon Shashua bought 631,963 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average price of $16.51 per share, with a total value of $10,433,709.13. Following the transaction, the chief executive officer now directly owns 4,080,097 shares in the company, valued at $67,362,401.47. The disclosure for this purchase can be found here. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Mobileye Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its position 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 worth $254,832,000 after purchasing an additional 8,073,552 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Mobileye Global by 89.8% in the 1st quarter. Baillie Gifford & Co. now owns 15,985,212 shares of the company’s stock valued at $513,925,000 after buying an additional 7,560,929 shares in the last quarter. Kodai Capital Management LP bought a new stake in shares of Mobileye Global during the fourth quarter worth $148,924,000. Wellington Management Group LLP boosted its position in shares of Mobileye Global by 200.3% during the fourth quarter. Wellington Management Group LLP now owns 3,398,211 shares of the company’s stock worth $147,210,000 after buying an additional 2,266,438 shares during the period. Finally, Janus Henderson Group PLC acquired a new stake in Mobileye Global in the 1st quarter valued at approximately $69,638,000. 13.25% of the stock is owned by 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.