Mobile Infrastructure (NASDAQ:BEEP) Stock Price Down 8.3% – Here’s What Happened

Mobile Infrastructure Co. (NASDAQ:BEEP) fell 8.3% during trading on Tuesday . The stock traded as low as $3.42 and last traded at $3.52. 48,516 shares traded hands during trading, an increase of 26% from the average session volume of 38,652 shares. The stock had previously closed at $3.84.

Analyst Ratings Changes

Several brokerages have commented on BEEP. B. Riley began coverage on Mobile Infrastructure in a research note on Thursday, January 23rd. They set a “buy” rating and a $5.00 target price for the company. Piper Sandler began coverage on Mobile Infrastructure in a research note on Thursday, January 23rd. They set an “overweight” rating and a $5.00 target price for the company.

Mobile Infrastructure Stock Performance

The company has a market capitalization of $147.49 million, a P/E ratio of -3.91 and a beta of 0.58. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.10 and a quick ratio of 0.10. The company has a fifty day moving average price of $4.08 and a two-hundred day moving average price of $3.46.

Institutional Trading of Mobile Infrastructure

Hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in shares of Mobile Infrastructure by 216.0% during the third quarter. International Assets Investment Management LLC now owns 172,066 shares of the company’s stock worth $564,000 after purchasing an additional 117,607 shares during the last quarter. 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 purchasing an additional 81,727 shares during the last quarter. CWM LLC grew its holdings 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 purchasing an additional 11,245 shares during the last quarter. Concorde Asset Management LLC grew its holdings in shares of Mobile Infrastructure by 5.5% during the third 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 last quarter. Finally, Jane Street Group LLC bought a new stake in Mobile Infrastructure in the fourth quarter valued at approximately $82,000. 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.