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

Mobileye Global Inc. (NASDAQ:MBLY)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $16.95, but opened at $15.94. Mobileye Global shares last traded at $15.64, with a volume of 2,477,792 shares.

Wall Street Analyst Weigh In

MBLY has been the topic of a number of analyst reports. UBS Group downgraded Mobileye Global from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $20.00 to $14.00 in a research report on Friday, October 4th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $10.00 price target (down previously from $16.00) on shares of Mobileye Global in a research report on Monday, October 7th. Mizuho increased their price target on Mobileye Global from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Barclays decreased their price target on Mobileye Global from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, TD Cowen raised 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, ten have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $23.45.

Mobileye Global Stock Performance

The stock has a market capitalization of $12.69 billion, a price-to-earnings ratio of -4.29 and a beta of 0.30. The company has a fifty day simple moving average of $17.77 and a 200 day simple moving average of $17.10.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rakuten Securities Inc. lifted its holdings in Mobileye Global by 140.2% during the 3rd quarter. Rakuten Securities Inc. now owns 1,818 shares of the company’s stock worth $25,000 after buying an additional 1,061 shares during the period. Versant Capital Management Inc lifted its holdings in Mobileye Global by 580.0% during the 4th quarter. Versant Capital Management Inc now owns 1,326 shares of the company’s stock worth $26,000 after buying an additional 1,131 shares during the period. Quarry LP acquired a new position in Mobileye Global during the 3rd quarter worth about $31,000. Cranbrook Wealth Management LLC acquired a new position in Mobileye Global during the 2nd quarter worth about $84,000. Finally, Quest Partners LLC acquired a new position in Mobileye Global during the 3rd quarter worth about $102,000. 13.25% of the stock is owned by institutional investors and hedge funds.

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.