Mobile Infrastructure (NASDAQ:BEEP) Now Covered by Piper Sandler

Piper Sandler assumed coverage on shares of Mobile Infrastructure (NASDAQ:BEEP) in a research report sent to investors on Thursday morning, Marketbeat reports. The firm issued an overweight rating and a $5.00 target price on the stock.

Separately, B. Riley initiated coverage on Mobile Infrastructure in a research note on Thursday. They issued a “buy” rating and a $5.00 target price for the company.

Mobile Infrastructure Stock Performance

Shares of BEEP stock opened at $3.90 on Thursday. The stock has a 50-day moving average of $3.76 and a 200-day moving average of $3.35. Mobile Infrastructure has a one year low of $2.48 and a one year high of $4.86. The stock has a market cap of $163.41 million, a PE ratio of -4.33 and a beta of 0.59. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.10 and a quick ratio of 0.10.

Mobile Infrastructure (NASDAQ:BEEP) last posted its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter. Mobile Infrastructure had a negative return on equity of 4.36% and a negative net margin of 24.59%. The firm had revenue of $9.76 million during the quarter.

Institutional Investors Weigh In On Mobile Infrastructure

A number of hedge funds and other institutional investors have recently made changes to their positions in BEEP. Concorde Asset Management LLC boosted its stake in Mobile Infrastructure by 5.5% in the 3rd quarter. Concorde Asset Management LLC now owns 57,164 shares of the company’s stock worth $187,000 after purchasing an additional 2,985 shares during the period. Centaurus Financial Inc. lifted its holdings in shares of Mobile Infrastructure by 6.7% in the second quarter. Centaurus Financial Inc. now owns 93,018 shares of the company’s stock valued at $319,000 after purchasing an additional 5,869 shares in the last quarter. CWM LLC boosted its position in shares of Mobile Infrastructure by 40.8% during the third quarter. CWM LLC now owns 38,810 shares of the company’s stock worth $127,000 after buying an additional 11,245 shares during the period. Brookstone Capital Management grew its holdings in shares of Mobile Infrastructure by 84.2% during the third quarter. Brookstone Capital Management now owns 48,355 shares of the company’s stock worth $159,000 after buying an additional 22,097 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Mobile Infrastructure by 40.5% during the third quarter. Geode Capital Management LLC now owns 283,474 shares of the company’s stock worth $930,000 after buying an additional 81,727 shares in the last quarter. 84.30% of the stock is currently owned by institutional investors and hedge funds.

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.