Mobilicom (NASDAQ:MOB) Shares Set to Reverse Split on Friday, October 10th

Mobilicom Limited Sponsored ADR (NASDAQ:MOB)’s stock is scheduled to reverse split before the market opens on Friday, October 10th. The 1-275 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, October 9th.

Mobilicom Trading Up 10.1%

Mobilicom stock opened at $10.04 on Monday. Mobilicom has a twelve month low of $1.04 and a twelve month high of $10.91. The company has a current ratio of 6.94, a quick ratio of 6.15 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average price is $5.95 and its two-hundred day moving average price is $3.53.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MOB. Zacks Research raised shares of Mobilicom to a “hold” rating in a research note on Wednesday, September 3rd. Litchfield Hills Research started coverage on Mobilicom in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $10.00 target price on the stock. Wall Street Zen upgraded Mobilicom from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Mobilicom in a report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $10.00.

Hedge Funds Weigh In On Mobilicom

Large investors have recently bought and sold shares of the stock. PFG Investments LLC acquired a new stake in shares of Mobilicom during the 1st quarter worth approximately $30,000. Corsair Capital Management L.P. bought a new position in Mobilicom in the second quarter worth $50,000. Ground Swell Capital LLC acquired a new stake in Mobilicom during the first quarter worth $39,000. Jane Street Group LLC bought a new stake in Mobilicom in the 2nd quarter valued at $184,000. Finally, Bard Associates Inc. increased its holdings in Mobilicom by 2.4% in the 1st quarter. Bard Associates Inc. now owns 639,496 shares of the company’s stock valued at $1,055,000 after buying an additional 15,000 shares during the period. 13.56% of the stock is currently owned by institutional investors and hedge funds.

Mobilicom Company Profile

Mobilicom Limited operates as an end-to-end provider of cybersecurity and smart solutions for drones, robotics, and autonomous platforms. It designs, develops, and delivers smart solutions, such as cloud management software, communication datalink and mobile mesh networking terminals, handheld control terminals, and professional services and support for drone, robotics, and autonomous system manufacturers, as well as hardware products and software solutions.