Mobileye Global Target of Unusually High Options Trading (NASDAQ:MBLY)

Mobileye Global Inc. (NASDAQ:MBLY) saw some unusual options trading on Wednesday. Investors acquired 24,609 call options on the stock. This represents an increase of 107% compared to the typical volume of 11,867 call options.

Mobileye Global Trading Down 2.6%

NASDAQ:MBLY traded down $0.20 during trading hours on Wednesday, reaching $7.74. 2,420,440 shares of the company were exchanged, compared to its average volume of 7,457,838. The firm has a market cap of $6.51 billion, a PE ratio of -1.54 and a beta of 1.15. Mobileye Global has a twelve month low of $6.47 and a twelve month high of $20.18. The stock’s 50-day moving average is $9.22 and its 200-day moving average is $9.28.

Mobileye Global (NASDAQ:MBLY) last announced its earnings results on Thursday, April 23rd. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. The business had revenue of $558.00 million for the quarter, compared to analyst estimates of $519.34 million. Mobileye Global had a negative net margin of 203.97% and a positive return on equity of 0.33%. The company’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.08 earnings per share. As a group, research analysts anticipate that Mobileye Global will post -0.09 EPS for the current year.

Mobileye Global declared that its Board of Directors has authorized a share buyback plan on Thursday, April 23rd that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Mobileye Global

A number of hedge funds have recently made changes to their positions in MBLY. IFP Advisors Inc lifted its position in shares of Mobileye Global by 465.7% in the third quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock valued at $26,000 after acquiring an additional 1,495 shares in the last quarter. Rhumbline Advisers purchased a new stake in shares of Mobileye Global during the first quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Mobileye Global during the second quarter worth approximately $31,000. Financial Management Professionals Inc. acquired a new position in Mobileye Global in the 4th quarter valued at $32,000. Finally, Leonteq Securities AG acquired a new position in Mobileye Global in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 13.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. UBS Group upped their price objective on Mobileye Global from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Mizuho increased their price target on shares of Mobileye Global from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. The Goldman Sachs Group raised their price target on shares of Mobileye Global from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Jefferies Financial Group started coverage on shares of Mobileye Global in a report on Monday, May 18th. They issued an “underperform” rating and a $8.00 price objective for the company. Finally, Zacks Research raised shares of Mobileye Global from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $13.77.

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.