Melqart Asset Management UK Ltd Invests $4.98 Million in Mobileye Global Inc. (NASDAQ:MBLY)

Melqart Asset Management UK Ltd bought a new stake in Mobileye Global Inc. (NASDAQ:MBLY) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 363,364 shares of the company’s stock, valued at approximately $4,978,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MBLY. Rakuten Securities Inc. lifted its position in Mobileye Global by 140.2% during the third quarter. Rakuten Securities Inc. now owns 1,818 shares of the company’s stock valued at $25,000 after purchasing an additional 1,061 shares during the period. Cranbrook Wealth Management LLC purchased a new position in Mobileye Global during the second quarter valued at approximately $84,000. Quest Partners LLC acquired a new stake in shares of Mobileye Global during the 3rd quarter worth approximately $102,000. EverSource Wealth Advisors LLC increased 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 buying an additional 3,478 shares in the last quarter. Finally, Guinness Atkinson Asset Management Inc grew its holdings in Mobileye Global by 16.9% in the third quarter. Guinness Atkinson Asset Management Inc now owns 8,700 shares of the company’s stock valued at $119,000 after purchasing an additional 1,257 shares during the period. Hedge funds and other institutional investors own 13.25% of the company’s stock.

Mobileye Global Trading Up 0.9 %

MBLY opened at $17.54 on Wednesday. The stock’s 50-day moving average price is $14.59 and its 200 day moving average price is $18.84. Mobileye Global Inc. has a 12-month low of $10.48 and a 12-month high of $44.48. The firm has a market cap of $14.23 billion, a price-to-earnings ratio of -4.81 and a beta of 0.44.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. TD Cowen increased their target price on Mobileye Global from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, November 1st. The Goldman Sachs Group reduced their price target on shares of Mobileye Global from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Wolfe Research cut Mobileye Global from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. Royal Bank of Canada reissued a “sector perform” rating and set a $11.00 target price on shares of Mobileye Global in a report on Tuesday, November 26th. Finally, Barclays lowered their price target on Mobileye Global from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $23.14.

Mobileye Global Company 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.