Mobile Infrastructure (NASDAQ:BEEP) Trading Down 3.1% - What's Next?

Mobile Infrastructure Corporation (NASDAQ:BEEP - Get Free Report) shares dropped 3.1% on Tuesday . The stock traded as low as $3.71 and last traded at $3.73. Approximately 40,682 shares traded hands during trading, a decline of 35% from the average daily volume of 63,010 shares. The stock had previously closed at $3.85.

Wall Street Analyst Weigh In

Separately, Barrington Research set a $6.50 price target on shares of Mobile Infrastructure and gave the company an "outperform" rating in a research report on Monday, May 19th.

Mobile Infrastructure Trading Up 1.9%

The firm's 50-day moving average price is $4.05 and its 200-day moving average price is $3.97. 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 company has a market cap of $163.24 million, a P/E ratio of -15.40 and a beta of 0.57.

Institutional Trading of Mobile Infrastructure

Several hedge funds and other institutional investors have recently modified their holdings of BEEP. MAI Capital Management raised its position in shares of Mobile Infrastructure by 99.3% in the first quarter. MAI Capital Management now owns 6,253 shares of the company's stock valued at $26,000 after purchasing an additional 3,116 shares during the period. Barclays PLC bought a new stake in shares of Mobile Infrastructure in the fourth quarter valued at approximately $31,000. Focus Partners Wealth bought a new stake in shares of Mobile Infrastructure in the first quarter valued at approximately $80,000. Jane Street Group LLC bought a new stake in shares of Mobile Infrastructure in the fourth quarter valued at approximately $82,000. Finally, Two Sigma Securities LLC purchased a new stake in shares of Mobile Infrastructure in the fourth quarter worth about $85,000. 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.