Mobileye Global (NASDAQ:MBLY) Receives Sector Perform Rating from Royal Bank of Canada

Mobileye Global (NASDAQ:MBLY)‘s stock had its “sector perform” rating reiterated by Royal Bank of Canada in a research report issued on Thursday,Benzinga reports. They currently have a $11.00 price target on the stock. Royal Bank of Canada’s price objective indicates a potential downside of 39.29% from the company’s current price.

A number of other brokerages have also recently commented on MBLY. UBS Group cut Mobileye Global from a “buy” rating to a “neutral” rating and reduced their target price for the company from $20.00 to $14.00 in a report on Friday, October 4th. Evercore ISI reduced their target price on Mobileye Global from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Loop Capital initiated coverage on Mobileye Global in a report on Tuesday, November 12th. They set a “buy” rating and a $20.00 target price for the company. BNP Paribas cut Mobileye Global from a “neutral” rating to an “underperform” rating and set a $12.00 target price for the company. in a report on Wednesday, October 2nd. Finally, Needham & Company LLC dropped their price target on Mobileye Global from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $23.14.

Mobileye Global Price Performance

NASDAQ MBLY traded up $1.04 during trading hours on Thursday, reaching $18.12. The company’s stock had a trading volume of 2,434,525 shares, compared to its average volume of 5,080,718. The firm has a market capitalization of $14.70 billion, a price-to-earnings ratio of -4.96 and a beta of 0.44. Mobileye Global has a 1-year low of $10.48 and a 1-year high of $44.48. The company’s 50-day moving average is $14.77 and its two-hundred day moving average is $18.75.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its position in shares of Mobileye Global by 807.3% during the second quarter. The Manufacturers Life Insurance Company now owns 9,073,601 shares of the company’s stock worth $254,832,000 after buying an additional 8,073,552 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of 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 shares of Mobileye Global by 85.3% during the third quarter. Loomis Sayles & Co. L P now owns 1,668,331 shares of the company’s stock worth $22,856,000 after buying an additional 768,169 shares during the period. Tremblant Capital Group purchased a new position in shares of Mobileye Global during the second quarter worth $15,663,000. Finally, Melqart Asset Management UK Ltd purchased a new position in shares of Mobileye Global during the third quarter worth $4,978,000. 13.25% of the stock is currently owned by hedge funds and other institutional investors.

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.