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

Key Points

• Mobilicom Limited is set to execute a 1-275 reverse stock split on October 10th, with adjustments to share ownership occurring after market close on October 9th.
• The stock saw an 8.7% increase in value recently, opening at $8.86, while analysts provide a “Moderate Buy” rating with a target price of $10.00.
• Institutional investors have been active, with multiple firms increasing their positions or acquiring new ones, highlighting growing interest in Mobilicom shares.

Mobilicom Limited Sponsored ADR (NASDAQ:MOB - Free Report)'s stock is set to reverse split on the morning of 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 Stock Up 8.7%

Shares of NASDAQ:MOB opened at $8.86 on Wednesday. The company's 50-day moving average price is $5.02 and its 200 day moving average price is $3.12. Mobilicom has a fifty-two week low of $1.03 and a fifty-two week high of $9.20. The company has a current ratio of 6.94, a quick ratio of 6.15 and a debt-to-equity ratio of 0.07.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MOB. Zacks Research upgraded shares of Mobilicom to a "hold" rating in a research report on Wednesday, September 3rd. Litchfield Hills Research began coverage on shares of Mobilicom in a research report on Tuesday, September 2nd. They issued a "buy" rating and a $10.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Mobilicom from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $10.00.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. PFG Investments LLC purchased a new position in shares of Mobilicom in the first quarter worth approximately $30,000. Corsair Capital Management L.P. purchased a new position in shares of Mobilicom in the second quarter worth approximately $50,000. Ground Swell Capital LLC purchased a new position in shares of Mobilicom in the first quarter worth approximately $39,000. Jane Street Group LLC purchased a new position in shares of Mobilicom in the second quarter worth approximately $184,000. Finally, Bard Associates Inc. increased its position in shares of Mobilicom by 2.4% in the first quarter. Bard Associates Inc. now owns 639,496 shares of the company's stock worth $1,055,000 after acquiring an additional 15,000 shares in the last quarter. 13.56% of the stock is owned by hedge funds and other institutional investors.

About Mobilicom

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.

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