Mobileye Global (NASDAQ:MBLY) Shares Gap Up to $31.12

Mobileye Global Inc. (NASDAQ:MBLY)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $31.12, but opened at $33.00. Mobileye Global shares last traded at $30.43, with a volume of 2,023,490 shares traded.

Wall Street Analyst Weigh In

MBLY has been the subject of a number of analyst reports. Piper Sandler initiated coverage on shares of Mobileye Global in a research report on Friday, March 15th. They issued a “neutral” rating and a $31.00 price objective for the company. Needham & Company LLC decreased their price objective 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. JPMorgan Chase & Co. upped their price target on shares of Mobileye Global from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. 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. Finally, Wolfe Research upgraded shares of Mobileye Global from a “peer perform” rating to an “outperform” rating and set a $41.00 price target for the company in a research report on Friday, April 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.62.

Mobileye Global Stock Performance

The firm’s 50 day moving average price is $29.06 and its two-hundred day moving average price is $33.49. The firm has a market cap of $24.91 billion, a PE ratio of -777.81, a PEG ratio of 14.15 and a beta of -0.21.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings results on Thursday, January 25th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. Mobileye Global had a negative net margin of 1.30% and a positive return on equity of 2.91%. The business had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $637.53 million. During the same quarter in the prior year, the company posted $0.27 EPS. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, analysts forecast that Mobileye Global Inc. will post 0.14 earnings per share for the current year.

Insider Activity

In other news, Director Patrick P. Gelsinger purchased 3,600 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was acquired at an average price of $27.75 per share, with a total value of $99,900.00. Following the purchase, the director now directly owns 129,095 shares in the company, valued at approximately $3,582,386.25. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Mobileye Global

Large investors have recently made changes to their positions in the stock. Barclays PLC acquired a new stake in Mobileye Global during the 3rd quarter worth approximately $211,000. Natixis Advisors L.P. lifted its holdings in Mobileye Global by 166.9% during the 3rd quarter. Natixis Advisors L.P. now owns 87,547 shares of the company’s stock worth $3,638,000 after buying an additional 54,745 shares in the last quarter. TrueMark Investments LLC acquired a new stake in Mobileye Global during the 4th quarter worth approximately $1,662,000. Platinum Investment Management Ltd. lifted its holdings in Mobileye Global by 207.4% during the 3rd quarter. Platinum Investment Management Ltd. now owns 998,827 shares of the company’s stock worth $41,501,000 after buying an additional 673,906 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in Mobileye Global during the 3rd quarter worth approximately $35,374,000. 13.25% of the stock is currently owned by institutional investors and hedge funds.

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.