Mobileye Global (NASDAQ:MBLY) Shares Gap Up Following Analyst Upgrade

Mobileye Global Inc. (NASDAQ:MBLY - Get Free Report) shares gapped up prior to trading on Monday after Mizuho raised their price target on the stock from $13.00 to $15.00. The stock had previously closed at $14.99, but opened at $16.18. Mizuho currently has a neutral rating on the stock. Mobileye Global shares last traded at $16.09, with a volume of 3,095,087 shares trading hands.

A number of other brokerages also recently weighed in on MBLY. Morgan Stanley upgraded Mobileye Global from an "underweight" rating to an "equal weight" rating and lowered their price target for the company from $25.00 to $18.00 in a report on Friday, August 2nd. Fox Advisors lowered shares of Mobileye Global from an "overweight" rating to an "equal weight" rating in a report on Thursday, August 1st. Barclays lowered their price objective on shares of Mobileye Global from $19.00 to $18.00 and set an "overweight" rating for the company in a research report on Monday, November 4th. Canaccord Genuity Group cut their target price on shares of Mobileye Global from $27.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Finally, The Goldman Sachs Group lowered their target price on Mobileye Global from $24.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, October 1st. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $23.14.

Institutional Trading of Mobileye Global

Several hedge funds have recently modified their holdings of MBLY. The Manufacturers Life Insurance Company lifted its stake in Mobileye Global by 49.8% in the third quarter. The Manufacturers Life Insurance Company now owns 13,590,818 shares of the company's stock valued at $186,194,000 after buying an additional 4,517,217 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Mobileye Global by 807.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,073,601 shares of the company's stock valued at $254,832,000 after purchasing an additional 8,073,552 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Mobileye Global by 4.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,347,269 shares of the company's stock worth $65,923,000 after acquiring an additional 94,946 shares during the last quarter. 1832 Asset Management L.P. grew its stake in Mobileye Global by 5,308.1% in the 1st quarter. 1832 Asset Management L.P. now owns 2,206,500 shares of the company's stock valued at $70,939,000 after buying an additional 2,165,700 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new stake in Mobileye Global in the 1st quarter valued at $69,638,000. 13.25% of the stock is owned by institutional investors.

Mobileye Global Trading Up 12.2 %

The firm has a market cap of $13.64 billion, a price-to-earnings ratio of -4.61 and a beta of 0.07. The firm's 50 day simple moving average is $13.37 and its two-hundred day simple moving average is $19.62.

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.