Mobileye Global (NASDAQ:MBLY) Shares Gap Up to $11.42

Mobileye Global Inc. (NASDAQ:MBLY - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $11.42, but opened at $12.10. Mobileye Global shares last traded at $12.00, with a volume of 1,603,315 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MBLY shares. Barclays decreased their price target on shares of Mobileye Global from $40.00 to $27.00 and set an "overweight" rating for the company in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $15.00 price objective on shares of Mobileye Global in a research note on Tuesday, September 10th. Hsbc Global Res upgraded shares of Mobileye Global to a "strong-buy" rating in a research note on Monday, July 15th. JPMorgan Chase & Co. cut shares of Mobileye Global from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $38.00 to $24.00 in a research note on Wednesday, July 31st. Finally, Fox Advisors cut shares of Mobileye Global from an "overweight" rating to an "equal weight" rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $30.81.

Mobileye Global Trading Up 3.7 %

The firm has a market capitalization of $9.58 billion, a PE ratio of -56.38 and a beta of 0.08. The business's 50 day simple moving average is $17.37 and its two-hundred day simple moving average is $24.81.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. Mobileye Global had a negative net margin of 12.14% and a positive return on equity of 1.32%. The company had revenue of $439.00 million during the quarter, compared to analyst estimates of $424.34 million. During the same period in the previous year, the business posted $0.11 earnings per share. The firm's quarterly revenue was down 3.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Mobileye Global Inc. will post -0.07 earnings per share for the current year.

Insider Activity at Mobileye Global

In related news, CEO Amnon Shashua purchased 631,963 shares of Mobileye Global stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of $16.51 per share, for a total transaction of $10,433,709.13. Following the completion of the transaction, the chief executive officer now directly owns 4,080,097 shares in the company, valued at approximately $67,362,401.47. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other Mobileye Global news, Director Patrick P. Gelsinger acquired 6,400 shares of the company's stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $15.48 per share, with a total value of $99,072.00. Following the completion of the purchase, the director now directly owns 139,106 shares in the company, valued at approximately $2,153,360.88. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Amnon Shashua acquired 631,963 shares of the company's stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $16.51 per share, with a total value of $10,433,709.13. Following the acquisition, the chief executive officer now directly owns 4,080,097 shares in the company, valued at $67,362,401.47. The disclosure for this purchase can be found here. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mobileye Global

A number of large investors have recently made changes to their positions in MBLY. Baillie Gifford & Co. increased its stake in Mobileye Global by 89.8% in the first quarter. Baillie Gifford & Co. now owns 15,985,212 shares of the company's stock worth $513,925,000 after purchasing an additional 7,560,929 shares during the period. Norges Bank purchased a new stake in Mobileye Global during the fourth quarter worth $437,842,000. The Manufacturers Life Insurance Company increased 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 acquiring an additional 8,073,552 shares during the period. Kodai Capital Management LP bought a new position in shares of Mobileye Global in the 4th quarter worth $148,924,000. Finally, Wellington Management Group LLP lifted its stake in shares of Mobileye Global by 200.3% during the 4th quarter. Wellington Management Group LLP now owns 3,398,211 shares of the company's stock worth $147,210,000 after purchasing an additional 2,266,438 shares during the last quarter. 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.