Mobileye Global (NASDAQ:MBLY) Trading Down 8.9% – Time to Sell?

Mobileye Global Inc. (NASDAQ:MBLY) shares dropped 8.9% on Wednesday . The company traded as low as $17.67 and last traded at $17.90. Approximately 5,753,279 shares changed hands during mid-day trading, an increase of 11% from the average daily volume of 5,202,554 shares. The stock had previously closed at $19.64.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MBLY. Needham & Company LLC reissued a “buy” rating and issued a $20.00 target price on shares of Mobileye Global in a research note on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $15.00 target price on shares of Mobileye Global in a research note on Tuesday, September 10th. Royal Bank of Canada reissued a “sector perform” rating and set a $11.00 price target on shares of Mobileye Global in a research note on Thursday, December 5th. Evercore ISI reduced their target price on shares of Mobileye Global from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Finally, TD Cowen boosted their price target on shares of Mobileye Global from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Mobileye Global presently has a consensus rating of “Hold” and a consensus price target of $23.38.

Mobileye Global Stock Performance

The stock has a fifty day simple moving average of $15.80 and a 200 day simple moving average of $18.13. The firm has a market cap of $14.20 billion, a P/E ratio of -4.80 and a beta of 0.44.

Institutional Trading of Mobileye Global

A number of institutional investors have recently made changes to their positions in the stock. 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 worth $25,000 after purchasing an additional 1,061 shares during the last quarter. Quarry LP purchased a new position in shares of Mobileye Global in the 3rd quarter worth $31,000. Cranbrook Wealth Management LLC bought a new stake in shares of Mobileye Global in the second quarter worth $84,000. Quest Partners LLC purchased a new stake in Mobileye Global during the third quarter valued at $102,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Mobileye Global by 1,019.9% in the second quarter. EverSource Wealth Advisors LLC now owns 3,819 shares of the company’s stock valued at $107,000 after acquiring an additional 3,478 shares during the period. Hedge funds and other 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.