Mobileye Global (NASDAQ:MBLY) Shares Gap Down – What’s Next?

Mobileye Global Inc. (NASDAQ:MBLY)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $16.95, but opened at $15.94. Mobileye Global shares last traded at $15.64, with a volume of 2,477,792 shares traded.

Analyst Ratings Changes

A number of analysts recently weighed in on MBLY shares. TD Cowen upped their target price on shares of Mobileye Global from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Mizuho upped their price objective on Mobileye Global from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Wolfe Research raised Mobileye Global from a “peer perform” rating to an “outperform” rating in a research note on Thursday, December 5th. The Goldman Sachs Group dropped their price objective on Mobileye Global from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $10.00 target price (down previously from $16.00) on shares of Mobileye Global in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $23.45.

Mobileye Global Stock Performance

The stock’s 50-day moving average is $17.76 and its 200 day moving average is $17.24. The firm has a market cap of $12.78 billion, a P/E ratio of -4.32 and a beta of 0.30.

Hedge Funds Weigh In On Mobileye Global

Several institutional investors have recently modified their holdings of MBLY. Rakuten Securities Inc. raised its holdings in Mobileye Global by 140.2% during the 3rd quarter. Rakuten Securities Inc. now owns 1,818 shares of the company’s stock worth $25,000 after buying an additional 1,061 shares during the period. Versant Capital Management Inc grew its holdings in shares of 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 in the 3rd quarter valued at approximately $31,000. Cranbrook Wealth Management LLC bought a new stake in Mobileye Global in the 2nd quarter valued at approximately $84,000. Finally, Quest Partners LLC acquired a new position in Mobileye Global during the 3rd quarter worth approximately $102,000. Institutional investors own 13.25% of the company’s stock.

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.