HITE Hedge Asset Management LLC Invests $4.26 Million in Mobileye Global Inc. (NASDAQ:MBLY)

HITE Hedge Asset Management LLC acquired a new position in Mobileye Global Inc. (NASDAQ:MBLY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 214,070 shares of the company’s stock, valued at approximately $4,264,000.

A number of other institutional investors also recently bought and sold shares of the stock. HighTower Advisors LLC increased its position in Mobileye Global by 141.6% in the third quarter. HighTower Advisors LLC now owns 25,302 shares of the company’s stock worth $345,000 after buying an additional 14,829 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Mobileye Global by 101.8% during the 3rd quarter. Stifel Financial Corp now owns 179,236 shares of the company’s stock valued at $2,456,000 after acquiring an additional 90,436 shares during the period. Geode Capital Management LLC increased its holdings in Mobileye Global by 24.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,431,325 shares of the company’s stock worth $19,615,000 after acquiring an additional 279,082 shares in the last quarter. Virtu Financial LLC bought a new stake in Mobileye Global during the 3rd quarter worth approximately $229,000. Finally, Sanctuary Advisors LLC purchased a new position in Mobileye Global during the third quarter valued at approximately $273,000. 13.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MBLY. Bank of America raised Mobileye Global from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $12.00 to $19.00 in a research note on Monday, February 10th. Oppenheimer started coverage on shares of Mobileye Global in a report on Wednesday, January 15th. They set an “outperform” rating and a $28.00 price objective for the company. UBS Group lowered their target price on shares of Mobileye Global from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. The Goldman Sachs Group cut their target price on shares of Mobileye Global from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Finally, Barclays reiterated an “equal weight” rating and issued a $14.00 price target (down previously from $22.00) on shares of Mobileye Global in a research note on Tuesday. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.55.

Mobileye Global Price Performance

Shares of NASDAQ:MBLY opened at $11.90 on Friday. Mobileye Global Inc. has a 1 year low of $10.48 and a 1 year high of $33.26. The firm has a market capitalization of $9.65 billion, a PE ratio of -3.12, a price-to-earnings-growth ratio of 69.54 and a beta of 0.39. The business has a 50 day simple moving average of $15.13 and a two-hundred day simple moving average of $15.85.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.08). Mobileye Global had a negative net margin of 186.82% and a negative return on equity of 0.34%. Equities research analysts expect that Mobileye Global Inc. will post 0.01 EPS for the current fiscal year.

Mobileye Global 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.