Mobileye Global (NASDAQ:MBLY) Trading Up 9.2% – Time to Buy?

Mobileye Global Inc. (NASDAQ:MBLY)’s stock price traded up 9.2% during trading on Wednesday . The stock traded as high as $7.56 and last traded at $7.5050. 6,483,954 shares traded hands during trading, a decline of 23% from the average session volume of 8,450,166 shares. The stock had previously closed at $6.87.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MBLY shares. Tigress Financial reissued a “buy” rating and issued a $25.00 price target on shares of Mobileye Global in a report on Thursday, January 29th. Arete Research downgraded Mobileye Global from a “buy” rating to a “neutral” rating and set a $15.70 price objective for the company. in a research note on Tuesday, January 27th. HSBC raised Mobileye Global to a “strong-buy” rating in a research report on Friday, January 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Mobileye Global in a report on Wednesday, January 28th. Finally, Needham & Company LLC lowered their price target on shares of Mobileye Global from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Mobileye Global presently has an average rating of “Hold” and a consensus target price of $15.48.

Mobileye Global Stock Up 7.2%

The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of -15.17 and a beta of 0.59. The company has a 50-day moving average price of $8.53 and a 200-day moving average price of $11.08.

Mobileye Global (NASDAQ:MBLY) last posted its earnings results on Thursday, January 22nd. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. Mobileye Global had a positive return on equity of 0.21% and a negative net margin of 20.70%.The firm had revenue of $446.00 million for the quarter, compared to analysts’ expectations of $430.69 million. During the same period last year, the firm earned $0.13 EPS. The firm’s revenue was down 9.0% compared to the same quarter last year. As a group, analysts forecast that Mobileye Global Inc. will post 0.01 earnings per share for the current year.

Institutional Investors Weigh In On Mobileye Global

A number of hedge funds and other institutional investors have recently modified their holdings of MBLY. IFP Advisors Inc increased its stake in Mobileye Global by 465.7% during the 3rd quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock valued at $26,000 after buying an additional 1,495 shares during the period. Rhumbline Advisers bought a new position in shares of Mobileye Global in the first quarter valued at approximately $27,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Mobileye Global during the second quarter valued at approximately $31,000. Financial Management Professionals Inc. bought a new stake in Mobileye Global during the fourth quarter worth approximately $32,000. Finally, Leonteq Securities AG bought a new stake in Mobileye Global during the fourth quarter worth approximately $33,000. 13.25% of the stock is currently owned by institutional investors.

About Mobileye Global

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.