Mobileye Global (NASDAQ:MBLY) Shares Gap Up After Analyst Upgrade

Mobileye Global Inc. (NASDAQ:MBLY) shares gapped up before the market opened on Monday after Barclays upgraded the stock from an equal weight rating to an overweight rating. The stock had previously closed at $11.23, but opened at $12.08. Barclays now has a $16.00 price target on the stock, down from their previous price target of $17.00. Mobileye Global shares last traded at $11.6050, with a volume of 2,927,031 shares traded.

A number of other equities research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft raised Mobileye Global from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Monday, October 6th. Zacks Research cut shares of Mobileye Global from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Bank of America cut their price objective on shares of Mobileye Global from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 10th. Morgan Stanley decreased their target price on shares of Mobileye Global from $17.00 to $13.00 and set an “equal weight” rating for the company in a research report on Monday, December 8th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mobileye Global in a research report on Friday, October 31st. Ten analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $18.26.

Institutional Trading of Mobileye Global

Institutional investors and hedge funds have recently made changes to their positions in the business. Vident Advisory LLC purchased a new position in shares of Mobileye Global during the 1st quarter valued at approximately $230,000. Advisors Asset Management Inc. grew its position in shares of Mobileye Global by 51.7% in the first quarter. Advisors Asset Management Inc. now owns 23,944 shares of the company’s stock valued at $345,000 after purchasing an additional 8,160 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Mobileye Global by 33.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 220,649 shares of the company’s stock worth $3,176,000 after purchasing an additional 55,713 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Mobileye Global by 10.7% during the 1st quarter. NewEdge Advisors LLC now owns 31,228 shares of the company’s stock worth $450,000 after purchasing an additional 3,019 shares during the last quarter. Finally, Tiger Pacific Capital LP lifted its stake in Mobileye Global by 9.8% in the 1st quarter. Tiger Pacific Capital LP now owns 147,821 shares of the company’s stock valued at $2,128,000 after buying an additional 13,221 shares in the last quarter. 13.25% of the stock is currently owned by hedge funds and other institutional investors.

Mobileye Global Trading Up 3.1%

The company has a fifty day moving average of $11.56 and a 200-day moving average of $13.84. The company has a market capitalization of $9.42 billion, a price-to-earnings ratio of -27.58, a PEG ratio of 2.81 and a beta of 0.57.

Mobileye Global (NASDAQ:MBLY) last announced its earnings results on Thursday, October 23rd. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $504.00 million during the quarter, compared to analysts’ expectations of $479.93 million. Mobileye Global had a positive return on equity of 0.68% and a negative net margin of 17.34%.The business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 earnings per share. As a group, equities research analysts expect that Mobileye Global Inc. will post 0.01 EPS for the current year.

Mobileye Global Company Profile

Mobileye Global Inc (NASDAQ: MBLY) is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye’s core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.

Founded in 1999 by Prof.