Mobileye Global (NASDAQ:MBLY) Shares Gap Up - What's Next?

Mobileye Global Inc. (NASDAQ:MBLY - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $16.10, but opened at $17.01. Mobileye Global shares last traded at $15.35, with a volume of 10,013,595 shares traded.

Wall Street Analyst Weigh In

Several analysts have issued reports on MBLY shares. Robert W. Baird raised their price target on shares of Mobileye Global from $19.00 to $23.00 and gave the stock an "outperform" rating in a research report on Friday, July 11th. JPMorgan Chase & Co. raised their price target on shares of Mobileye Global from $10.00 to $12.00 and gave the stock an "underweight" rating in a research report on Thursday, July 17th. TD Cowen raised their price target on shares of Mobileye Global from $18.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. UBS Group upped their target price on shares of Mobileye Global from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Finally, Wall Street Zen upgraded shares of Mobileye Global to a "sell" rating in a research note on Tuesday, April 29th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $19.21.

Mobileye Global Price Performance

The stock has a market capitalization of $12.51 billion, a P/E ratio of -4.18, a PEG ratio of 16.73 and a beta of 0.54. The company's 50 day simple moving average is $16.60 and its two-hundred day simple moving average is $15.86.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.08. Mobileye Global had a negative net margin of 160.50% and a positive return on equity of 0.54%. The company had revenue of $438.00 million for the quarter, compared to analyst estimates of $434.87 million. During the same period in the prior year, the business earned ($0.07) earnings per share. Mobileye Global's quarterly revenue was up 83.3% on a year-over-year basis. On average, research analysts anticipate that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Corp Intel sold 63,731,985 shares of the company's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $16.05, for a total transaction of $1,022,898,359.25. Following the transaction, the insider directly owned 50,000,000 shares in the company, valued at approximately $802,500,000. This represents a 56.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Boaz Ouriel sold 67,493 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $16.09, for a total transaction of $1,085,962.37. Following the transaction, the executive vice president owned 107,853 shares in the company, valued at $1,735,354.77. The trade was a 38.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mobileye Global

A number of large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its holdings in Mobileye Global by 4.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 14,211,880 shares of the company's stock valued at $283,101,000 after buying an additional 621,062 shares during the period. Norges Bank acquired a new position in Mobileye Global in the fourth quarter valued at approximately $95,937,000. DAVENPORT & Co LLC lifted its holdings in Mobileye Global by 7.6% in the first quarter. DAVENPORT & Co LLC now owns 2,369,612 shares of the company's stock valued at $34,111,000 after buying an additional 167,333 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Mobileye Global by 32.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,002,257 shares of the company's stock valued at $28,822,000 after buying an additional 493,281 shares during the period. Finally, Primecap Management Co. CA lifted its holdings in Mobileye Global by 9.0% in the first quarter. Primecap Management Co. CA now owns 1,966,200 shares of the company's stock valued at $28,303,000 after buying an additional 161,800 shares during the period. 13.25% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.