Renaissance Capital LLC Has $3.79 Million Position in Mobileye Global Inc. $MBLY

Renaissance Capital LLC raised its stake in Mobileye Global Inc. (NASDAQ:MBLY) by 182.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 268,558 shares of the company’s stock after buying an additional 173,356 shares during the period. Mobileye Global comprises about 2.1% of Renaissance Capital LLC’s portfolio, making the stock its 17th biggest position. Renaissance Capital LLC’s holdings in Mobileye Global were worth $3,792,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Mobileye Global in the third quarter valued at approximately $504,000. Permanent Capital Management LP acquired a new position in shares of Mobileye Global in the 3rd quarter worth approximately $508,000. Perigon Wealth Management LLC boosted its stake in shares of Mobileye Global by 5.7% in the 3rd quarter. Perigon Wealth Management LLC now owns 22,164 shares of the company’s stock valued at $313,000 after purchasing an additional 1,205 shares during the last quarter. Polianta Ltd increased its position in shares of Mobileye Global by 29.5% during the third quarter. Polianta Ltd now owns 101,800 shares of the company’s stock worth $1,437,000 after buying an additional 23,200 shares during the period. Finally, Vontobel Holding Ltd. bought a new position in Mobileye Global during the third quarter worth $222,000. 13.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on MBLY shares. Zacks Research cut shares of Mobileye Global from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Robert W. Baird cut their target price on Mobileye Global from $22.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 3rd. Evercore ISI decreased their target price on Mobileye Global from $25.00 to $20.00 and set an “outperform” rating for the company in a research note on Monday, November 24th. Deutsche Bank Aktiengesellschaft raised Mobileye Global from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Monday, October 6th. Finally, Bank of America cut their price target on Mobileye Global from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, September 10th. Nine equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Mobileye Global has a consensus rating of “Hold” and a consensus price target of $18.32.

Mobileye Global Stock Performance

Shares of NASDAQ:MBLY opened at $10.61 on Wednesday. Mobileye Global Inc. has a 52-week low of $10.04 and a 52-week high of $22.51. The business’s 50 day simple moving average is $11.75 and its two-hundred day simple moving average is $13.93. The firm has a market cap of $8.63 billion, a P/E ratio of -25.26, a PEG ratio of 4.61 and a beta of 0.54.

Mobileye Global (NASDAQ:MBLY) last issued its earnings results on Thursday, October 23rd. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Mobileye Global had a positive return on equity of 0.68% and a negative net margin of 17.34%.The company had revenue of $504.00 million for the quarter, compared to analyst estimates of $479.93 million. During the same period in the prior year, the firm earned $0.10 earnings per share. Mobileye Global’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts forecast that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal year.

Mobileye Global 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.