Mobile Infrastructure (NASDAQ:BEEP) Stock Price Down 2.7% – Here’s Why

Mobile Infrastructure Corporation (NASDAQ:BEEP)’s share price was down 2.7% on Friday . The stock traded as low as $1.80 and last traded at $1.81. Approximately 20,324 shares traded hands during trading, a decline of 30% from the average daily volume of 29,159 shares. The stock had previously closed at $1.86.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Mobile Infrastructure in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Mobile Infrastructure has a consensus rating of “Hold” and a consensus price target of $6.50.

Mobile Infrastructure Trading Down 2.7%

The firm has a market capitalization of $74.55 million, a PE ratio of -3.29 and a beta of 0.50. The firm’s fifty day moving average is $2.35 and its two-hundred day moving average is $2.78. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.10 and a quick ratio of 0.10.

Mobile Infrastructure (NASDAQ:BEEP) last released its quarterly earnings results on Monday, March 2nd. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.07). Mobile Infrastructure had a negative return on equity of 10.93% and a negative net margin of 61.13%.The firm had revenue of $8.76 million for the quarter. On average, equities analysts predict that Mobile Infrastructure Corporation will post -0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bridgeway Capital Management LLC purchased a new position in Mobile Infrastructure in the fourth quarter valued at about $26,000. HRT Financial LP purchased a new position in Mobile Infrastructure in the fourth quarter valued at about $34,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Mobile Infrastructure in the second quarter valued at about $36,000. Wells Fargo & Company MN boosted its stake in Mobile Infrastructure by 31.3% in the fourth quarter. Wells Fargo & Company MN now owns 14,496 shares of the company’s stock valued at $37,000 after acquiring an additional 3,453 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Mobile Infrastructure in the second quarter valued at about $39,000. 84.30% of the stock is currently owned by hedge funds and other 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.