Short Interest in Mobile Infrastructure Corporation (NASDAQ:BEEP) Grows By 41.1%

Mobile Infrastructure Corporation (NASDAQ:BEEP) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totaling 238,890 shares, an increase of 41.1% from the November 30th total of 169,248 shares. Based on an average trading volume of 76,253 shares, the days-to-cover ratio is presently 3.1 days. Approximately 1.0% of the company’s stock are short sold. Approximately 1.0% of the company’s stock are short sold. Based on an average trading volume of 76,253 shares, the days-to-cover ratio is presently 3.1 days.

Institutional Investors Weigh In On Mobile Infrastructure

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of Mobile Infrastructure by 44.9% during the 2nd quarter. Geode Capital Management LLC now owns 572,065 shares of the company’s stock valued at $2,592,000 after buying an additional 177,384 shares during the last quarter. Cresset Asset Management LLC raised its stake in Mobile Infrastructure by 5.1% in the 3rd quarter. Cresset Asset Management LLC now owns 85,240 shares of the company’s stock valued at $300,000 after acquiring an additional 4,135 shares during the period. North Star Investment Management Corp. lifted its holdings in Mobile Infrastructure by 28.3% during the third quarter. North Star Investment Management Corp. now owns 68,000 shares of the company’s stock valued at $239,000 after purchasing an additional 15,000 shares during the last quarter. Connective Capital Management LLC boosted its position in Mobile Infrastructure by 10.8% during the third quarter. Connective Capital Management LLC now owns 60,973 shares of the company’s stock worth $215,000 after purchasing an additional 5,929 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Mobile Infrastructure by 104.1% in the first quarter. Goldman Sachs Group Inc. now owns 40,662 shares of the company’s stock worth $170,000 after purchasing an additional 20,741 shares in the last quarter. Institutional investors own 84.30% of the company’s stock.

Mobile Infrastructure Price Performance

BEEP opened at $2.81 on Monday. Mobile Infrastructure has a fifty-two week low of $2.50 and a fifty-two week high of $4.84. The firm has a 50-day moving average of $3.10 and a 200 day moving average of $3.54. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a market cap of $118.86 million, a P/E ratio of -7.21 and a beta of 0.53.

Wall Street Analysts Forecast Growth

BEEP has been the topic of a number of recent analyst reports. Barrington Research reissued an “outperform” rating and set a $6.50 price target on shares of Mobile Infrastructure in a research report on Friday, November 14th. Wall Street Zen lowered shares of Mobile Infrastructure to a “strong sell” rating in a research note on Saturday. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Mobile Infrastructure in a research note on Monday, December 22nd. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $5.88.

Mobile Infrastructure Company Profile

Mobile Infrastructure Corporation is a Maryland corporation. The Company owns a diversified portfolio of parking assets primarily located in the Midwest and Southwest. As of December 31, 2023, the Company owned 43 parking facilities in 21 separate markets throughout the United States, with a total of 15,700 parking spaces and approximately 5.4 million square feet. The Company also owns approximately 0.2 million square feet of retail/commercial space adjacent to its parking facilities.