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

Mobile Infrastructure Corporation (NASDAQ:BEEP)’s stock price dropped 2.7% during mid-day trading on Friday . The company traded as low as $1.80 and last traded at $1.81. Approximately 20,324 shares changed 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 Upgrades and Downgrades

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

Mobile Infrastructure Trading Down 2.7%

The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $74.55 million, a P/E ratio of -3.29 and a beta of 0.50. The firm has a 50 day moving average of $2.35 and a 200-day moving average of $2.78.

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

Institutional Investors Weigh In On Mobile Infrastructure

Several institutional investors have recently made changes to their positions in the stock. Hodges Capital Management Inc. bought a new stake in Mobile Infrastructure during the first quarter worth $46,000. Connective Capital Management LLC increased its holdings in shares of Mobile Infrastructure by 22.2% during the fourth quarter. Connective Capital Management LLC now owns 74,507 shares of the company’s stock worth $190,000 after buying an additional 13,534 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Mobile Infrastructure during the fourth quarter worth $57,000. Bridgeway Capital Management LLC acquired a new position in shares of Mobile Infrastructure during the fourth quarter worth $26,000. Finally, State Street Corp increased its holdings in shares of 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 buying an additional 10,491 shares in the last quarter. 84.30% of the stock is currently owned by 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.