Mobileye Global Inc. (NASDAQ:MBLY) Sees Large Growth in Short Interest

Mobileye Global Inc. (NASDAQ:MBLY) was the recipient 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 trading volume, of 6,350,000 shares, the short-interest ratio is presently 3.2 days. Currently, 22.1% of the company’s shares are sold short.

Mobileye Global Price Performance

NASDAQ MBLY traded up $0.28 during trading on Monday, reaching $12.95. The company’s stock had a trading volume of 1,570,836 shares, compared to its average volume of 4,821,153. The firm has a fifty day moving average of $12.91 and a 200 day moving average of $21.30. Mobileye Global has a one year low of $10.48 and a one year high of $44.48. The stock has a market capitalization of $10.48 billion, a PE ratio of -60.33 and a beta of 0.08.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.09 earnings per share 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 company had revenue of $439.00 million for the quarter, compared to analysts’ expectations of $424.34 million. During the same period in the prior year, the business earned $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 expect that Mobileye Global will post -0.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MBLY has been the topic of a number of recent research reports. Hsbc Global Res upgraded Mobileye Global to a “strong-buy” rating in a report on Monday, July 15th. Daiwa Capital Markets cut Mobileye Global from a “buy” rating to a “neutral” rating in a research note on Monday, August 5th. Robert W. Baird reduced their target price on shares of Mobileye Global from $40.00 to $29.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. BNP Paribas lowered shares of Mobileye Global from a “neutral” rating to an “underperform” rating and set a $12.00 price target on the stock. in a research report on Wednesday, October 2nd. Finally, Needham & Company LLC reduced their price objective on shares of Mobileye Global from $36.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $25.55.

Insiders Place Their Bets

In related news, Director Patrick P. Gelsinger purchased 6,400 shares of Mobileye Global stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $15.48 per share, for a total transaction of $99,072.00. Following the completion of the acquisition, the director now owns 139,106 shares of the company’s stock, valued at $2,153,360.88. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Amnon Shashua bought 631,963 shares of the stock in a transaction dated Friday, August 2nd. The shares were bought 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 directly owns 4,080,097 shares of the company’s stock, valued at $67,362,401.47. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Patrick P. Gelsinger bought 6,400 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $15.48 per share, for a total transaction of $99,072.00. Following the completion of the acquisition, the director now owns 139,106 shares in the company, valued at $2,153,360.88. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its holdings in shares of Mobileye Global by 89.8% in the 1st quarter. Baillie Gifford & Co. now owns 15,985,212 shares of the company’s stock worth $513,925,000 after purchasing an additional 7,560,929 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Mobileye Global by 807.3% during the second quarter. The Manufacturers Life Insurance Company now owns 9,073,601 shares of the company’s stock valued at $254,832,000 after acquiring an additional 8,073,552 shares during the last quarter. DAVENPORT & Co LLC raised its stake in shares of Mobileye Global by 20.9% during the first quarter. DAVENPORT & Co LLC now owns 2,364,377 shares of the company’s stock worth $76,519,000 after acquiring an additional 408,038 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Mobileye Global by 4.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,347,269 shares of the company’s stock worth $65,923,000 after acquiring an additional 94,946 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of Mobileye Global by 5,308.1% in the 1st quarter. 1832 Asset Management L.P. now owns 2,206,500 shares of the company’s stock valued at $70,939,000 after purchasing an additional 2,165,700 shares in the last quarter. Institutional investors own 13.25% of the company’s stock.

About Mobileye Global

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.