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

Mobileye Global Inc. (NASDAQ:MBLY) was the recipient of a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 18,270,000 shares, a decline of 18.7% from the December 15th total of 22,460,000 shares. Currently, 19.7% of the company’s shares are short sold. Based on an average daily trading volume, of 7,070,000 shares, the short-interest ratio is currently 2.6 days.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MBLY shares. The Goldman Sachs Group lowered their target price on shares of Mobileye Global from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. TD Cowen lifted their target price on shares of Mobileye Global from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, November 1st. UBS Group raised their price target on Mobileye Global from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday. Mizuho boosted their price objective on Mobileye Global from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Canaccord Genuity Group decreased their target price on Mobileye Global from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. 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 given a strong buy rating to the company’s stock. According to MarketBeat, Mobileye Global presently has a consensus rating of “Hold” and an average price target of $23.81.

Institutional Investors Weigh In On Mobileye Global

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rakuten Securities Inc. boosted its holdings in Mobileye Global by 140.2% in the third quarter. Rakuten Securities Inc. now owns 1,818 shares of the company’s stock valued at $25,000 after purchasing an additional 1,061 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Mobileye Global by 580.0% during the 4th quarter. Versant Capital Management Inc now owns 1,326 shares of the company’s stock worth $26,000 after buying an additional 1,131 shares during the last quarter. Guinness Atkinson Asset Management Inc boosted its holdings in shares of Mobileye Global by 16.9% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 8,700 shares of the company’s stock valued at $119,000 after buying an additional 1,257 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Mobileye Global in the 4th quarter valued at $30,000. Finally, Tidal Investments LLC raised its stake in Mobileye Global by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 36,586 shares of the company’s stock worth $501,000 after acquiring an additional 1,617 shares in the last quarter. Institutional investors and hedge funds own 13.25% of the company’s stock.

Mobileye Global Price Performance

Mobileye Global stock opened at $16.51 on Friday. The stock’s fifty day moving average is $17.83 and its two-hundred day moving average is $16.84. The stock has a market cap of $13.39 billion, a PE ratio of -4.52, a P/E/G ratio of 13.46 and a beta of 0.30. Mobileye Global has a 1-year low of $10.48 and a 1-year high of $34.00.

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.