Mobile Infrastructure (NASDAQ:BEEP) Stock Price Down 1.3% – What’s Next?

Shares of Mobile Infrastructure Corporation (NASDAQ:BEEP) traded down 1.3% during mid-day trading on Monday . The company traded as low as $2.97 and last traded at $3.15. 63,721 shares changed hands during trading, an increase of 25% from the average session volume of 50,829 shares. The stock had previously closed at $3.19.

Analyst Ratings Changes

A number of brokerages have recently commented on BEEP. Weiss Ratings reissued a “sell (d)” rating on shares of Mobile Infrastructure in a report on Monday, December 29th. Barrington Research reissued an “outperform” rating and set a $6.50 target price on shares of Mobile Infrastructure in a research note on Friday, November 14th. Finally, Wall Street Zen downgraded shares of Mobile Infrastructure to a “strong sell” rating in a research report on Saturday, December 27th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.75.

Mobile Infrastructure Trading Down 1.3%

The company has a debt-to-equity ratio of 0.18, a current ratio of 0.08 and a quick ratio of 0.08. The business has a fifty day moving average of $2.80 and a 200-day moving average of $3.28. The stock has a market capitalization of $133.25 million, a price-to-earnings ratio of -8.08 and a beta of 0.55.

Institutional Trading of Mobile Infrastructure

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cresset Asset Management LLC lifted its holdings in shares of Mobile Infrastructure by 5.1% during the third quarter. Cresset Asset Management LLC now owns 85,240 shares of the company’s stock valued at $300,000 after purchasing an additional 4,135 shares during the last quarter. Connective Capital Management LLC raised its holdings in Mobile Infrastructure by 10.8% during the 3rd quarter. Connective Capital Management LLC now owns 60,973 shares of the company’s stock worth $215,000 after buying an additional 5,929 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Mobile Infrastructure during the second quarter valued at about $36,000. Raymond James Financial Inc. acquired a new position in shares of Mobile Infrastructure in the second quarter worth about $39,000. Finally, JPMorgan Chase & Co. increased its position in shares of Mobile Infrastructure by 63.9% in the third quarter. JPMorgan Chase & Co. now owns 22,702 shares of the company’s stock worth $80,000 after acquiring an additional 8,848 shares in the last quarter. 84.30% of the stock is currently owned by institutional investors.

About Mobile Infrastructure

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.