HITE Hedge Asset Management LLC Takes $2.19 Million Position in Mobileye Global Inc. $MBLY

HITE Hedge Asset Management LLC purchased a new position in shares of Mobileye Global Inc. (NASDAQ:MBLY) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 155,109 shares of the company’s stock, valued at approximately $2,190,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of MBLY. Northwestern Mutual Wealth Management Co. purchased a new position in Mobileye Global during the 2nd quarter worth $31,000. Rhumbline Advisers purchased a new stake in shares of Mobileye Global in the first quarter valued at about $27,000. Tower Research Capital LLC TRC raised its holdings in shares of Mobileye Global by 464.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,288 shares of the company’s stock valued at $59,000 after buying an additional 2,705 shares during the last quarter. KBC Group NV acquired a new stake in shares of Mobileye Global during the second quarter worth about $65,000. Finally, MAI Capital Management boosted its stake in shares of Mobileye Global by 22.2% during the third quarter. MAI Capital Management now owns 4,400 shares of the company’s stock worth $62,000 after buying an additional 800 shares during the period. 13.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on MBLY. JPMorgan Chase & Co. upgraded Mobileye Global from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $12.00 to $13.00 in a research report on Tuesday, January 6th. Morgan Stanley decreased their price objective on Mobileye Global from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Friday, January 23rd. Zacks Research downgraded Mobileye Global from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Evercore dropped their target price on Mobileye Global from $25.00 to $20.00 and set an “outperform” rating on the stock in a report on Monday, November 24th. Finally, Piper Sandler decreased their price target on Mobileye Global from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.89.

Mobileye Global Stock Performance

MBLY opened at $7.59 on Friday. The company has a market cap of $6.39 billion, a price-to-earnings ratio of -15.49 and a beta of 0.59. Mobileye Global Inc. has a one year low of $7.57 and a one year high of $20.18. The business’s fifty day moving average is $9.54 and its two-hundred day moving average is $11.74.

Mobileye Global (NASDAQ:MBLY) last posted its earnings results on Thursday, January 22nd. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $446.00 million during the quarter, compared to the consensus estimate of $430.69 million. Mobileye Global had a negative net margin of 20.70% and a positive return on equity of 0.21%. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period last year, the firm posted $0.13 EPS. On average, analysts predict that Mobileye Global Inc. will post 0.01 EPS for the current fiscal year.

About Mobileye Global

Mobileye Global Inc (NASDAQ: MBLY) is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye’s core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.

Founded in 1999 by Prof.