MobilEye Short Interest Jumps To Highest Levels Since April As Intel Offloads Stake, Tesla Robotaxi Momentum Fades

Short sellers ramped up their bets against Mobileye last week after Intel unveiled plans to offload a large portion of its stake, triggering a sharp drop in the stock and renewed scrutiny from investors.

According to Ortex data compiled by The Fly, short interest surged to 26.3% of free float, marking the highest levels since late April and up from 22.5% last week. Days-to-cover also rose to 5.6. 

The spike in bearish positioning came as shares of Mobileye have fallen 13.8% over the past week, closing at $16.11 on Friday.

Intel’s wholly owned subsidiary, Intel Overseas Funding Corporation, is offering 45 million Class A shares in a public secondary offering, with underwriters holding a 30-day option to purchase 6.75 million more. 

The chip giant is also converting 50 million Class B shares into publicly traded Class A shares, further increasing the float.

Though Mobileye isn’t selling any shares in the deal, it will repurchase $100 million worth of its own stock directly from Intel. 

The buyback was approved by board members not affiliated with Intel.

Despite the overhang, Mobileye delivered a stronger-than-expected second quarter revenue forecast, guiding for $502–$506 million versus analyst estimates of $466.4 million. 

Adjusted operating income is projected at $98–$104 million, up from $79 million last year.

The company also said escalating tensions with Iran had not materially impacted its operations and announced a new chip manufacturing deal with TSMC to supplement capacity alongside existing partner STMicroelectronics.

Mobileye had previously seen strength tied to Tesla’s Robotaxi momentum following the company’s autonomous pilot in Austin and a potential expansion into Arizona. However, the optimism was overshadowed by Intel’s decision to lighten its stake.

On Stocktwits, retail sentiment for Mobileye was ‘extremely bullish’ amid ‘extremely high’ message volume.

One user noted that Intel’s offering price for Mobileye shares was $16.50, while the market was trading lower at $16.11, calling the setup “interesting.” 

Another user said that they had added 1,000 shares around $15.38, expressing hope that the trade might turn into another Robinhood-like recovery.

Mobileye’s stock has declined 19.5% so far in 2025.

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