Norges Bank Purchases Shares of 4,816,135 Mobileye Global Inc. (NASDAQ:MBLY)

Norges Bank acquired a new position in shares of Mobileye Global Inc. (NASDAQ:MBLY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,816,135 shares of the company’s stock, valued at approximately $95,937,000. Norges Bank owned 0.59% of Mobileye Global as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in MBLY. Parkside Financial Bank & Trust increased its stake in Mobileye Global by 147.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,237 shares of the company’s stock valued at $25,000 after acquiring an additional 737 shares during the period. Versant Capital Management Inc increased its position in shares of Mobileye Global by 580.0% during the fourth quarter. Versant Capital Management Inc now owns 1,326 shares of the company’s stock valued at $26,000 after purchasing an additional 1,131 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Mobileye Global during the fourth quarter valued at approximately $30,000. Quarry LP acquired a new position in shares of Mobileye Global in the third quarter valued at $31,000. Finally, Global Retirement Partners LLC lifted its position in Mobileye Global by 136.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,613 shares of the company’s stock worth $32,000 after purchasing an additional 932 shares during the period. Institutional investors and hedge funds own 13.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MBLY shares. Bank of America upgraded shares of Mobileye Global from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $12.00 to $19.00 in a research note on Monday, February 10th. Piper Sandler raised their price target on shares of Mobileye Global from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. Loop Capital upped their price objective on Mobileye Global from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group raised their target price on Mobileye Global from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Finally, Oppenheimer assumed coverage on Mobileye Global in a research note on Wednesday, January 15th. They set an “outperform” rating and a $28.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $22.24.

Mobileye Global Price Performance

MBLY opened at $14.49 on Wednesday. Mobileye Global Inc. has a fifty-two week low of $10.48 and a fifty-two week high of $34.00. The company has a market cap of $11.75 billion, a price-to-earnings ratio of -3.79, a price-to-earnings-growth ratio of 69.54 and a beta of 0.29. The firm has a 50 day simple moving average of $15.99 and a 200 day simple moving average of $15.85.

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