Mobileye Global (NASDAQ:MBLY) Shares Gap Up - Time to Buy?

Mobileye Global Inc. (NASDAQ:MBLY - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $15.67, but opened at $16.48. Mobileye Global shares last traded at $16.88, with a volume of 1,632,225 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MBLY shares. Royal Bank of Canada reiterated a "sector perform" rating and issued a $11.00 price objective on shares of Mobileye Global in a research note on Thursday, December 5th. Oppenheimer began coverage on shares of Mobileye Global in a research note on Wednesday. They issued an "outperform" rating and a $28.00 price target for the company. Evercore ISI dropped their price objective on shares of Mobileye Global from $35.00 to $30.00 and set an "outperform" rating on the stock in a report on Monday, October 14th. Canaccord Genuity Group reduced their target price on Mobileye Global from $27.00 to $25.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Finally, BNP Paribas downgraded Mobileye Global from a "neutral" rating to an "underperform" rating and set a $12.00 price target on the stock. in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Mobileye Global has a consensus rating of "Hold" and an average target price of $23.81.

Mobileye Global Stock Performance

The company's 50 day simple moving average is $17.83 and its 200 day simple moving average is $16.85. The stock has a market cap of $13.39 billion, a PE ratio of -4.52, a price-to-earnings-growth ratio of 13.46 and a beta of 0.30.

Institutional Trading of Mobileye Global

A number of institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC increased its position in shares of Mobileye Global by 39.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 14,544 shares of the company's stock valued at $408,000 after purchasing an additional 4,141 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Mobileye Global by 1.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 394,835 shares of the company's stock worth $11,089,000 after buying an additional 6,026 shares during the last quarter. Blair William & Co. IL grew its position in Mobileye Global by 29.1% during the second quarter. Blair William & Co. IL now owns 8,869 shares of the company's stock valued at $249,000 after buying an additional 1,999 shares during the period. Skandinaviska Enskilda Banken AB publ increased its holdings in Mobileye Global by 55.1% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 40,257 shares of the company's stock worth $1,131,000 after buying an additional 14,300 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Mobileye Global by 1,019.9% in the second quarter. EverSource Wealth Advisors LLC now owns 3,819 shares of the company's stock worth $107,000 after acquiring an additional 3,478 shares during the period. 13.25% of the stock is owned by hedge funds and other institutional investors.

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.