Mobileye Global (NASDAQ:MBLY) Stock Price Down 9.5% – What’s Next?

Mobileye Global Inc. (NASDAQ:MBLY) shares fell 9.5% during mid-day trading on Tuesday . The company traded as low as $19.64 and last traded at $19.77. 8,741,783 shares were traded during trading, an increase of 7% from the average session volume of 8,169,862 shares. The stock had previously closed at $21.85.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MBLY. Robert W. Baird raised their price target on shares of Mobileye Global from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Evercore ISI dropped their target price on shares of Mobileye Global from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. The Goldman Sachs Group decreased their price target on shares of Mobileye Global from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Mizuho increased their price objective on Mobileye Global from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Loop Capital lifted their target price on Mobileye Global from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $23.45.

Mobileye Global Price Performance

The stock has a market capitalization of $15.86 billion, a PE ratio of -5.36 and a beta of 0.30. The business’s fifty day moving average price is $17.48 and its two-hundred day moving average price is $17.29.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Rakuten Securities Inc. boosted its position in Mobileye Global by 140.2% in the 3rd quarter. Rakuten Securities Inc. now owns 1,818 shares of the company’s stock worth $25,000 after purchasing an additional 1,061 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Mobileye Global by 580.0% during the fourth quarter. Versant Capital Management Inc now owns 1,326 shares of the company’s stock worth $26,000 after buying an additional 1,131 shares in the last quarter. Quarry LP acquired a new stake in Mobileye Global during the third quarter valued at $31,000. Cranbrook Wealth Management LLC purchased a new position in Mobileye Global in the second quarter valued at $84,000. Finally, Quest Partners LLC acquired a new position in shares of Mobileye Global in the third quarter worth about $102,000. 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.