Mobileye Global (NASDAQ:MBLY) Trading 8.1% Higher on Analyst Upgrade

Mobileye Global Inc. (NASDAQ:MBLY)’s share price was up 8.1% during trading on Friday after TD Cowen raised their price target on the stock from $15.00 to $19.00. TD Cowen currently has a buy rating on the stock. Mobileye Global traded as high as $14.85 and last traded at $14.71. Approximately 2,114,686 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 4,883,963 shares. The stock had previously closed at $13.61.

MBLY has been the topic of several other reports. Needham & Company LLC cut their target price on shares of Mobileye Global from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday. Hsbc Global Res raised shares of Mobileye Global to a “strong-buy” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $10.00 target price (down from $16.00) on shares of Mobileye Global in a research report on Monday, October 7th. Morgan Stanley upgraded Mobileye Global from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $25.00 to $18.00 in a research report on Friday, August 2nd. Finally, Mizuho downgraded Mobileye Global from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $30.00 to $13.00 in a research report on Friday, October 11th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Mobileye Global currently has a consensus rating of “Hold” and an average target price of $23.25.

Insider Buying and Selling at Mobileye Global

In related news, Director Patrick P. Gelsinger bought 6,400 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were bought at an average price of $15.48 per share, for a total transaction of $99,072.00. Following the completion of the acquisition, the director now directly owns 139,106 shares of the company’s stock, valued at $2,153,360.88. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Mobileye Global

A number of hedge funds have recently bought and sold shares of MBLY. Cranbrook Wealth Management LLC purchased a new stake in shares of Mobileye Global during the 2nd quarter valued at $84,000. Natixis Investment Managers International purchased a new position in Mobileye Global in the first quarter valued at about $99,000. EverSource Wealth Advisors LLC grew its position in shares of Mobileye Global by 1,019.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,819 shares of the company’s stock valued at $107,000 after acquiring an additional 3,478 shares during the period. Guinness Atkinson Asset Management Inc raised its holdings in shares of Mobileye Global by 16.9% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 8,700 shares of the company’s stock worth $119,000 after purchasing an additional 1,257 shares during the period. Finally, Avitas Wealth Management LLC purchased a new position in Mobileye Global in the third quarter valued at approximately $137,000. 13.25% of the stock is currently owned by institutional investors.

Mobileye Global Price Performance

The firm has a market capitalization of $12.60 billion, a P/E ratio of -55.61 and a beta of 0.08. The firm has a fifty day simple moving average of $12.77 and a two-hundred day simple moving average of $20.82.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $439.00 million during the quarter, compared to analyst estimates of $424.34 million. Mobileye Global had a positive return on equity of 1.32% and a negative net margin of 12.14%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 EPS. On average, research analysts anticipate that Mobileye Global Inc. will post -0.06 EPS for the current year.

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.