Mobile Infrastructure (NASDAQ:BEEP) Stock Price Up 0.7% – Still a Buy?

Mobile Infrastructure Corporation (NASDAQ:BEEP)’s share price shot up 0.7% during trading on Wednesday . The stock traded as high as $1.49 and last traded at $1.39. Approximately 94,225 shares traded hands during mid-day trading, a decline of 19% from the average daily volume of 116,042 shares. The stock had previously closed at $1.38.

Analysts Set New Price Targets

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

Mobile Infrastructure Price Performance

The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average price is $1.92 and its two-hundred day moving average price is $2.42. The stock has a market cap of $61.80 million, a PE ratio of -2.38 and a beta of 0.63.

Institutional Trading of Mobile Infrastructure

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

Mobile Infrastructure Company Profile

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.