Mobilicom (NASDAQ:MOB) Shares to Reverse Split on Friday, October 10th

Shares of Mobilicom Limited Sponsored ADR (NASDAQ:MOB) are scheduled to reverse split on Friday, October 10th. The 1-275 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, October 9th.

Mobilicom Stock Down 10.2%

NASDAQ MOB opened at $8.35 on Thursday. Mobilicom has a one year low of $1.03 and a one year high of $10.91. The company has a current ratio of 6.94, a quick ratio of 6.15 and a debt-to-equity ratio of 0.07. The business’s fifty day moving average is $5.72 and its 200-day moving average is $3.41.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wall Street Zen upgraded Mobilicom from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Litchfield Hills Research assumed coverage on Mobilicom in a research note on Tuesday, September 2nd. They set a “buy” rating and a $10.00 target price on the stock. Finally, Zacks Research upgraded Mobilicom to a “hold” rating in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Mobilicom has an average rating of “Moderate Buy” and an average target price of $10.00.

Institutional Investors Weigh In On Mobilicom

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MOB. PFG Investments LLC bought a new stake in Mobilicom in the 1st quarter valued at about $30,000. Bard Associates Inc. raised its stake in Mobilicom by 2.4% in the 1st quarter. Bard Associates Inc. now owns 639,496 shares of the company’s stock valued at $1,055,000 after acquiring an additional 15,000 shares during the period. Ground Swell Capital LLC bought a new stake in Mobilicom in the 1st quarter valued at about $39,000. Corsair Capital Management L.P. bought a new stake in Mobilicom in the 2nd quarter valued at about $50,000. Finally, Jane Street Group LLC bought a new stake in Mobilicom in the 2nd quarter valued at about $184,000. 13.56% of the stock is currently owned by institutional investors.

About Mobilicom

Mobilicom Limited operates as an end-to-end provider of cybersecurity and smart solutions for drones, robotics, and autonomous platforms. It designs, develops, and delivers smart solutions, such as cloud management software, communication datalink and mobile mesh networking terminals, handheld control terminals, and professional services and support for drone, robotics, and autonomous system manufacturers, as well as hardware products and software solutions.