Mobileye Global (NASDAQ:MBLY) Trading Down 9.5% – Here’s Why

Shares of Mobileye Global Inc. (NASDAQ:MBLY) traded down 9.5% during trading on Tuesday . The stock 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 Analyst Weigh In

A number of research firms recently issued reports on MBLY. Mizuho lifted their price target on Mobileye Global from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group dropped their target price on Mobileye Global from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.00 price target (down previously from $16.00) on shares of Mobileye Global in a report on Monday, October 7th. Evercore ISI dropped their price objective on Mobileye Global from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Finally, Wolfe Research raised shares of Mobileye Global from a “peer perform” rating to an “outperform” rating in a research note on Thursday, December 5th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Mobileye Global presently has a consensus rating of “Hold” and a consensus price target of $23.45.

Mobileye Global Trading Down 13.3 %

The company has a fifty day moving average price of $17.70 and a two-hundred day moving average price of $17.24. The firm has a market cap of $13.75 billion, a P/E ratio of -4.64 and a beta of 0.30.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Rakuten Securities Inc. boosted its holdings in Mobileye Global by 140.2% during the third quarter. Rakuten Securities Inc. now owns 1,818 shares of the company’s stock worth $25,000 after purchasing an additional 1,061 shares during the last quarter. Versant Capital Management Inc lifted its position in Mobileye Global by 580.0% during the 4th 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 position in shares of Mobileye Global during the 3rd quarter worth about $31,000. Cranbrook Wealth Management LLC bought a new position in shares of Mobileye Global in the 2nd quarter valued at about $84,000. Finally, Quest Partners LLC bought a new stake in Mobileye Global during the third quarter worth about $102,000. Institutional investors own 13.25% of the company’s stock.

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.