Mobileye Global Sees Unusually High Options Volume (NASDAQ:MBLY)

Mobileye Global Inc. (NASDAQ:MBLY) saw unusually large options trading activity on Wednesday. Traders bought 24,609 call options on the stock. This is an increase of 107% compared to the average daily volume of 11,867 call options.

Institutional Investors Weigh In On Mobileye Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc increased its stake in shares of Mobileye Global by 465.7% in the third quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock worth $26,000 after acquiring an additional 1,495 shares during the period. Rhumbline Advisers purchased a new stake in Mobileye Global in the first quarter valued at $27,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Mobileye Global in the second quarter valued at $31,000. Financial Management Professionals Inc. acquired a new stake in Mobileye Global during the 4th quarter worth about $32,000. Finally, Leonteq Securities AG purchased a new position in shares of Mobileye Global during the 4th quarter valued at about $33,000. 13.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MBLY has been the topic of a number of recent analyst reports. Jefferies Financial Group initiated coverage on shares of Mobileye Global in a research report on Monday, May 18th. They issued an “underperform” rating and a $8.00 price objective on the stock. TD Cowen upped their price target on shares of Mobileye Global from $8.50 to $10.00 and gave the stock a “buy” rating in a report on Friday, April 24th. JPMorgan Chase & Co. lowered their price objective on shares of Mobileye Global from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, April 16th. Zacks Research raised Mobileye Global from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Finally, UBS Group increased their price target on Mobileye Global from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Mobileye Global currently has an average rating of “Hold” and a consensus price target of $13.77.

Mobileye Global Price Performance

Shares of MBLY stock traded down $0.20 during mid-day trading on Wednesday, hitting $7.74. 2,420,440 shares of the stock traded hands, compared to its average volume of 7,457,838. Mobileye Global has a 52-week low of $6.47 and a 52-week high of $20.18. The stock has a market cap of $6.51 billion, a P/E ratio of -1.54 and a beta of 1.15. The stock’s fifty day moving average is $9.22 and its two-hundred day moving average is $9.28.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.09 by $0.03. The firm had revenue of $558.00 million during the quarter, compared to analyst estimates of $519.34 million. Mobileye Global had a negative net margin of 203.97% and a positive return on equity of 0.33%. Mobileye Global’s revenue was up 27.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 EPS. As a group, equities analysts forecast that Mobileye Global will post -0.09 EPS for the current fiscal year.

Mobileye Global announced that its Board of Directors has approved a stock repurchase plan on Thursday, April 23rd that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to buy up to 3.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Mobileye Global Company Profile

Mobileye Global Inc (NASDAQ: MBLY) is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye’s core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.

Founded in 1999 by Prof.