Mobile Infrastructure (NASDAQ:BEEP) Stock Price Up 0.7% – Here’s What Happened

Mobile Infrastructure Corporation (NASDAQ:BEEP)’s share price was up 0.7% during mid-day trading on Wednesday . The stock traded as high as $1.49 and last traded at $1.39. 94,225 shares were traded during trading, a decline of 19% from the average session volume of 116,042 shares. The stock had previously closed at $1.38.

Wall Street Analysts Forecast Growth

BEEP has been the topic of a number of research analyst reports. Maxim Group cut their price target on shares of Mobile Infrastructure from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Weiss Ratings restated a “sell (d)” rating on shares of Mobile Infrastructure in a report on Wednesday, June 24th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $6.50 price objective on shares of Mobile Infrastructure in a research report on Tuesday, May 19th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.25.

Mobile Infrastructure Trading Up 0.7%

The firm has a 50 day moving average of $1.93 and a 200 day moving average of $2.43. The firm has a market cap of $57.27 million, a PE ratio of -2.21 and a beta of 0.63. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.17.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hodges Capital Management Inc. purchased a new stake in Mobile Infrastructure in the 1st quarter worth about $46,000. Connective Capital Management LLC lifted its holdings in Mobile Infrastructure by 22.2% during the fourth quarter. Connective Capital Management LLC now owns 74,507 shares of the company’s stock valued at $190,000 after purchasing an additional 13,534 shares during the last quarter. XTX Topco Ltd purchased a new stake in Mobile Infrastructure during the fourth quarter valued at about $57,000. Bridgeway Capital Management LLC bought a new position in Mobile Infrastructure during the fourth quarter worth about $26,000. Finally, State Street Corp boosted its position in Mobile Infrastructure by 9.7% during the fourth quarter. State Street Corp now owns 118,200 shares of the company’s stock worth $301,000 after purchasing an additional 10,491 shares during the period. Institutional investors own 84.30% of the company’s stock.

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.