Mobileye Global Inc. (NASDAQ:MBLY) Short Interest Down 18.7% in December

Mobileye Global Inc. (NASDAQ:MBLY) saw a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 18,270,000 shares, a drop of 18.7% from the December 15th total of 22,460,000 shares. Based on an average daily trading volume, of 7,070,000 shares, the short-interest ratio is currently 2.6 days. Approximately 19.7% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MBLY. The Manufacturers Life Insurance Company lifted 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 period. Charles Schwab Investment Management Inc. lifted its holdings in Mobileye Global by 168.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,526,234 shares of the company’s stock worth $20,909,000 after buying an additional 957,565 shares during the period. Loomis Sayles & Co. L P boosted its position in Mobileye Global by 85.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,668,331 shares of the company’s stock valued at $22,856,000 after acquiring an additional 768,169 shares in the last quarter. Tremblant Capital Group bought a new position in shares of Mobileye Global in the 2nd quarter worth $15,663,000. Finally, Melqart Asset Management UK Ltd purchased a new stake in shares of Mobileye Global during the 3rd quarter worth $4,978,000. 13.25% of the stock is currently owned by institutional investors.

Mobileye Global Stock Performance

MBLY traded up $0.26 during trading on Friday, hitting $16.77. 375,997 shares of the stock were exchanged, compared to its average volume of 9,073,515. Mobileye Global has a 1 year low of $10.48 and a 1 year high of $34.00. The firm has a 50 day simple moving average of $17.83 and a 200 day simple moving average of $16.84. The firm has a market cap of $13.60 billion, a price-to-earnings ratio of -4.61, a P/E/G ratio of 13.46 and a beta of 0.30.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MBLY. Robert W. Baird lifted their price target on Mobileye Global from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Mizuho upped their price objective on shares of Mobileye Global from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Evercore ISI reduced their price objective on Mobileye Global from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. UBS Group increased their price target on shares of Mobileye Global from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Loop Capital boosted their price target on Mobileye Global from $20.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Mobileye Global has a consensus rating of “Hold” and a consensus price target of $23.81.

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.