Mobileye Global Inc. (NASDAQ:MBLY) Sees Significant Increase in Short Interest

Mobileye Global Inc. (NASDAQ:MBLY - Get Free Report) was the target of a large growth in short interest in October. As of October 15th, there was short interest totalling 20,620,000 shares, a growth of 27.3% from the September 30th total of 16,200,000 shares. Based on an average daily volume of 6,350,000 shares, the days-to-cover ratio is currently 3.2 days. Approximately 22.1% of the shares of the stock are sold short.

Insiders Place Their Bets

In other news, CEO Amnon Shashua purchased 631,963 shares of the business's stock in a transaction dated 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 acquisition, the chief executive officer now directly owns 4,080,097 shares of the company's stock, valued at approximately $67,362,401.47. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Mobileye Global news, Director Patrick P. Gelsinger purchased 6,400 shares of the company's stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $15.48 per share, for a total transaction 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 trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Amnon Shashua acquired 631,963 shares of the firm's stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of $16.51 per share, with a total value of $10,433,709.13. Following the completion of the transaction, the chief executive officer now owns 4,080,097 shares in the company, valued at approximately $67,362,401.47. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Mobileye Global

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cranbrook Wealth Management LLC purchased a new position in Mobileye Global in the 2nd quarter worth approximately $84,000. Natixis Investment Managers International purchased a new position in shares of Mobileye Global in the first quarter valued at $99,000. EverSource Wealth Advisors LLC grew its holdings in Mobileye Global by 1,019.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,819 shares of the company's stock valued at $107,000 after purchasing an additional 3,478 shares in the last quarter. Guinness Atkinson Asset Management Inc lifted its stake in shares of Mobileye Global by 16.9% in the third quarter. Guinness Atkinson Asset Management Inc now owns 8,700 shares of the company's stock worth $119,000 after acquiring an additional 1,257 shares in the last quarter. Finally, Avitas Wealth Management LLC purchased a new position in Mobileye Global in the third quarter valued at about $137,000. Institutional investors and hedge funds own 13.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MBLY. UBS Group lowered shares of Mobileye Global from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $20.00 to $14.00 in a research note on Friday, October 4th. Daiwa America lowered shares of Mobileye Global from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 5th. Mizuho lowered shares of Mobileye Global from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $30.00 to $13.00 in a research note on Friday, October 11th. Royal Bank of Canada lowered shares of Mobileye Global from an "outperform" rating to a "sector perform" rating and dropped their price target for the stock from $24.00 to $11.00 in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and set a $10.00 price target (down from $16.00) on shares of Mobileye Global in a research note on Monday, October 7th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $25.55.

Mobileye Global Stock Up 2.8 %

Shares of MBLY traded up $0.35 on Monday, hitting $13.02. 3,476,214 shares of the stock traded hands, compared to its average volume of 4,830,310. Mobileye Global has a 1 year low of $10.48 and a 1 year high of $44.48. The stock's 50 day moving average is $12.91 and its two-hundred day moving average is $21.30. The firm has a market capitalization of $10.54 billion, a P/E ratio of -61.67 and a beta of 0.08.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.09 EPS for the quarter, topping 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 firm had revenue of $439.00 million during the quarter, compared to analyst estimates of $424.34 million. During the same quarter in the prior year, the business posted $0.11 earnings per share. Mobileye Global's revenue for the quarter was down 3.3% compared to the same quarter last year. Research analysts forecast that Mobileye Global will post -0.06 EPS for the current year.

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.