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

Mobileye Global Inc. (NASDAQ:MBLY) was the target of a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 22,260,000 shares, a decrease of 16.5% from the March 31st total of 26,660,000 shares. Currently, 23.9% of the shares of the stock are sold short. Based on an average daily volume of 4,620,000 shares, the days-to-cover ratio is currently 4.8 days.

Mobileye Global Stock Up 1.5 %

Shares of MBLY opened at $14.61 on Friday. Mobileye Global has a fifty-two week low of $10.48 and a fifty-two week high of $33.26. The company’s fifty day moving average is $14.35 and its two-hundred day moving average is $15.94. The firm has a market cap of $11.86 billion, a PE ratio of -3.82, a price-to-earnings-growth ratio of 69.54 and a beta of 0.39.

Mobileye Global (NASDAQ:MBLY) last issued its earnings results on Thursday, April 24th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The business had revenue of $438.00 million for the quarter, compared to analyst estimates of $434.87 million. Mobileye Global had a negative return on equity of 0.34% and a negative net margin of 186.82%. The business’s quarterly revenue was up 83.3% on a year-over-year basis. During the same period last year, the company posted ($0.07) EPS. As a group, equities research analysts anticipate that Mobileye Global will post 0.01 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on MBLY. Needham & Company LLC lowered their target price on shares of Mobileye Global from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. TD Cowen boosted their target price on Mobileye Global from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, April 25th. Piper Sandler upped their target price on Mobileye Global from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, March 20th. Mizuho cut their price target on Mobileye Global from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. Finally, BNP Paribas upgraded shares of Mobileye Global from an “underperform” rating to a “neutral” rating and set a $11.00 target price for the company in a report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.63.

Institutional Trading of Mobileye Global

A number of institutional investors and hedge funds have recently bought and sold shares of MBLY. Retirement Planning Co of New England Inc. lifted its position in Mobileye Global by 41.7% during the first quarter. Retirement Planning Co of New England Inc. now owns 20,175 shares of the company’s stock valued at $290,000 after buying an additional 5,934 shares in the last quarter. Apollon Wealth Management LLC acquired a new position in shares of Mobileye Global during the 1st quarter valued at $159,000. Arcadia Investment Management Corp MI lifted its holdings in shares of Mobileye Global by 42.3% during the 1st quarter. Arcadia Investment Management Corp MI now owns 75,036 shares of the company’s stock valued at $1,080,000 after acquiring an additional 22,300 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Mobileye Global by 19.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 74,747 shares of the company’s stock worth $1,076,000 after purchasing an additional 12,047 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Mobileye Global by 10.2% in the 1st quarter. Bank of New York Mellon Corp now owns 84,621 shares of the company’s stock valued at $1,218,000 after purchasing an additional 7,808 shares in the last quarter. Institutional investors and hedge funds 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.