Mobile Infrastructure Corporation (NASDAQ:BEEP) Short Interest Update

Mobile Infrastructure Corporation (NASDAQ:BEEP) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totaling 238,890 shares, a growth of 41.1% from the November 30th total of 169,248 shares. Based on an average daily volume of 76,253 shares, the days-to-cover ratio is presently 3.1 days. Currently, 1.0% of the shares of the company are short sold. Currently, 1.0% of the shares of the company are short sold. Based on an average daily volume of 76,253 shares, the days-to-cover ratio is presently 3.1 days.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BEEP shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Mobile Infrastructure in a research report on Monday. Wall Street Zen downgraded Mobile Infrastructure to a “strong sell” rating in a research note on Saturday. Finally, Barrington Research reiterated an “outperform” rating and set a $6.50 price target on shares of Mobile Infrastructure in a research report on Friday, November 14th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.88.

Mobile Infrastructure Price Performance

NASDAQ BEEP opened at $2.56 on Wednesday. Mobile Infrastructure has a 12 month low of $2.50 and a 12 month high of $4.67. The firm has a market capitalization of $108.29 million, a PE ratio of -6.56 and a beta of 0.53. The company’s 50 day simple moving average is $3.07 and its 200 day simple moving average is $3.52. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.08 and a quick ratio of 0.08.

Institutional Trading of Mobile Infrastructure

A number of hedge funds and other institutional investors have recently modified their holdings of BEEP. Connective Capital Management LLC lifted its holdings in shares of Mobile Infrastructure by 10.8% in the third quarter. Connective Capital Management LLC now owns 60,973 shares of the company’s stock valued at $215,000 after buying an additional 5,929 shares during the period. Citadel Advisors LLC bought a new stake in Mobile Infrastructure in the third quarter worth about $79,000. Quadrant Capital Group LLC raised its position in Mobile Infrastructure by 69.6% in the third quarter. Quadrant Capital Group LLC now owns 27,729 shares of the company’s stock worth $98,000 after acquiring an additional 11,380 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in Mobile Infrastructure by 5.1% in the 3rd quarter. Cresset Asset Management LLC now owns 85,240 shares of the company’s stock valued at $300,000 after acquiring an additional 4,135 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Mobile Infrastructure by 63.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,702 shares of the company’s stock valued at $80,000 after purchasing an additional 8,848 shares in the last quarter. Institutional investors own 84.30% of the company’s stock.

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.