Mobileye Global (NASDAQ:MBLY) Stock Price Down 8.9% – What’s Next?

Mobileye Global Inc. (NASDAQ:MBLY) shares traded down 8.9% during mid-day trading on Wednesday . The company traded as low as $17.67 and last traded at $17.90. 5,753,279 shares were traded during mid-day trading, an increase of 11% from the average session volume of 5,202,554 shares. The stock had previously closed at $19.64.

Wall Street Analyst Weigh In

MBLY has been the topic of a number of recent research reports. Robert W. Baird raised their target price on Mobileye Global from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Mizuho raised their price objective on shares of Mobileye Global from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Wolfe Research raised Mobileye Global from a “peer perform” rating to an “outperform” rating in a report on Thursday, December 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $11.00 price target on shares of Mobileye Global in a report on Thursday, December 5th. Finally, TD Cowen increased their price objective on shares of Mobileye Global from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, November 1st. Three analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $23.38.

Mobileye Global Trading Down 1.2 %

The firm has a market cap of $14.20 billion, a PE ratio of -4.80 and a beta of 0.44. The business’s 50-day simple moving average is $15.80 and its 200 day simple moving average is $18.13.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James & Associates raised its stake in shares of Mobileye Global by 258.7% during the 2nd quarter. Raymond James & Associates now owns 336,417 shares of the company’s stock worth $9,448,000 after acquiring an additional 242,640 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Mobileye Global by 4.2% during 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 purchasing an additional 94,946 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in shares of Mobileye Global by 14.0% in the 2nd quarter. Verdence Capital Advisors LLC now owns 16,498 shares of the company’s stock worth $463,000 after purchasing an additional 2,031 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in Mobileye Global by 4.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 682,459 shares of the company’s stock worth $19,167,000 after buying an additional 29,470 shares during the last quarter. Finally, Peregrine Capital Management LLC increased its position in Mobileye Global by 2.0% during the 2nd quarter. Peregrine Capital Management LLC now owns 1,100,747 shares of the company’s stock valued at $30,914,000 after buying an additional 21,938 shares in the last quarter. 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.