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

Shares of Mobileye Global Inc. (NASDAQ:MBLY) shot up 8.1% 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. 2,114,686 shares traded hands during trading, a decline of 57% from the average session volume of 4,883,963 shares. The stock had previously closed at $13.61.

A number of other research firms also recently commented on MBLY. Robert W. Baird boosted their target price on shares of Mobileye Global from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday. Hsbc Global Res raised Mobileye Global to a “strong-buy” rating in a report on Monday, July 15th. Barclays reduced their price objective on Mobileye Global from $27.00 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday, October 15th. Royal Bank of Canada cut Mobileye Global from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $24.00 to $11.00 in a report on Tuesday, October 15th. Finally, Daiwa America downgraded Mobileye Global from a “strong-buy” rating to a “hold” rating in a report on Monday, August 5th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.25.

Insider Activity at Mobileye Global

In other Mobileye Global news, Director Patrick P. Gelsinger acquired 6,400 shares of Mobileye Global stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $15.48 per share, with a total value of $99,072.00. Following the purchase, the director now owns 139,106 shares in the company, valued at approximately $2,153,360.88. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Trading of Mobileye Global

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cranbrook Wealth Management LLC acquired a new stake in Mobileye Global in the 2nd quarter worth approximately $84,000. Natixis Investment Managers International bought a new position in shares of Mobileye Global in the first quarter valued at approximately $99,000. EverSource Wealth Advisors LLC lifted its stake in shares of Mobileye Global by 1,019.9% in the second quarter. EverSource Wealth Advisors LLC now owns 3,819 shares of the company’s stock worth $107,000 after buying an additional 3,478 shares during the last quarter. Guinness Atkinson Asset Management Inc boosted its holdings in shares of Mobileye Global by 16.9% during the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 8,700 shares of the company’s stock worth $119,000 after buying an additional 1,257 shares during the period. Finally, Avitas Wealth Management LLC acquired a new position in Mobileye Global in the 3rd quarter valued at $137,000. Institutional investors and hedge funds own 13.25% of the company’s stock.

Mobileye Global Trading Up 14.4 %

The stock has a market cap of $12.60 billion, a P/E ratio of -4.27 and a beta of 0.07. The firm’s fifty day moving average is $12.77 and its 200 day moving average is $20.82.

Mobileye Global (NASDAQ:MBLY) last posted 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 business had revenue of $439.00 million during the quarter, compared to analysts’ expectations of $424.34 million. Mobileye Global had a positive return on equity of 0.60% and a negative net margin of 164.13%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.11 EPS. Research analysts forecast that Mobileye Global Inc. will post -0.06 earnings per share for the current fiscal year.

Mobileye Global Company Profile

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.