Mobileye Global (NASDAQ:MBLY) Shares Gap Up to $30.13

Mobileye Global Inc. (NASDAQ:MBLY) gapped up prior to trading on Wednesday . The stock had previously closed at $30.13, but opened at $31.43. Mobileye Global shares last traded at $31.55, with a volume of 481,047 shares traded.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MBLY shares. Raymond James reduced their price target on shares of Mobileye Global from $48.00 to $40.00 in a research report on Monday, January 22nd. Needham & Company LLC reduced their price target on shares of Mobileye Global from $43.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, January 5th. TD Cowen dropped their price objective on Mobileye Global from $38.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday, January 26th. Bank of America downgraded Mobileye Global from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $47.00 to $22.00 in a report on Thursday, January 4th. Finally, Piper Sandler began coverage on Mobileye Global in a report on Friday, March 15th. They issued a “neutral” rating and a $31.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.91.

Mobileye Global Price Performance

The firm’s 50 day moving average price is $28.61 and its 200-day moving average price is $33.87. The firm has a market cap of $25.23 billion, a price-to-earnings ratio of -753.06, a P/E/G ratio of 15.46 and a beta of -0.21.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings data on Thursday, January 25th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $637.00 million for the quarter, compared to the consensus estimate of $637.53 million. Mobileye Global had a negative net margin of 1.30% and a positive return on equity of 2.91%. Mobileye Global’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company posted $0.27 earnings per share. Analysts expect that Mobileye Global Inc. will post 0.12 EPS for the current year.

Insider Transactions at Mobileye Global

In related news, Director Patrick P. Gelsinger acquired 3,600 shares of the stock in a transaction dated Monday, January 29th. The shares were acquired at an average price of $27.75 per share, for a total transaction of $99,900.00. Following the completion of the purchase, the director now owns 129,095 shares in the company, valued at approximately $3,582,386.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in Mobileye Global in the fourth quarter worth $423,732,000. Kodai Capital Management LP bought a new position in shares of Mobileye Global during the fourth quarter valued at $148,924,000. Wellington Management Group LLP lifted its holdings in shares of Mobileye Global by 200.3% during the fourth quarter. Wellington Management Group LLP now owns 3,398,211 shares of the company’s stock valued at $147,210,000 after acquiring an additional 2,266,438 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Mobileye Global by 25.8% during the fourth quarter. Franklin Resources Inc. now owns 2,622,704 shares of the company’s stock valued at $113,616,000 after acquiring an additional 538,371 shares during the period. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Mobileye Global during the fourth quarter valued at $82,304,000. 13.25% of the stock is owned by 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.