Mobile Infrastructure Corporation (NASDAQ:BEEP) Short Interest Update

Mobile Infrastructure Corporation (NASDAQ:BEEP) saw a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 121,191 shares, a decline of 57.1% from the June 15th total of 282,709 shares. Based on an average daily volume of 185,960 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.5% of the shares of the stock are sold short.

Mobile Infrastructure Stock Up 0.6%

NASDAQ BEEP opened at $1.79 on Tuesday. The business’s fifty day simple moving average is $1.86 and its 200-day simple moving average is $2.36. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.17. The firm has a market cap of $73.75 million, a PE ratio of -2.84 and a beta of 0.62. Mobile Infrastructure has a 52 week low of $1.29 and a 52 week high of $4.24.

Hedge Funds Weigh In On Mobile Infrastructure

Institutional investors have recently bought and sold shares of the company. Bridgeway Capital Management LLC acquired a new position in Mobile Infrastructure in the 4th quarter valued at about $26,000. HRT Financial LP purchased a new stake in Mobile Infrastructure in the fourth quarter valued at $34,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Mobile Infrastructure in the 2nd quarter valued at $36,000. Wells Fargo & Company MN grew its holdings in shares of Mobile Infrastructure by 31.3% during the 4th quarter. Wells Fargo & Company MN now owns 14,496 shares of the company’s stock worth $37,000 after purchasing an additional 3,453 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Mobile Infrastructure during the 2nd quarter worth $39,000. 84.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BEEP shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Mobile Infrastructure in a report on Wednesday, June 24th. Barrington Research restated an “outperform” rating and set a $6.50 target price on shares of Mobile Infrastructure in a report on Tuesday, May 19th. Finally, Maxim Group dropped their price target on Mobile Infrastructure from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Mobile Infrastructure currently has an average rating of “Hold” and an average target price of $6.25.

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.