Mobilicom (NASDAQ:MOB) Stock Price Down 8% - Time to Sell?

Key Points

• Mobilicom's stock price decreased by 8% during trading, closing at $8.61, with a notable increase in trading volume.
• Analyst ratings are mixed, with Mobilicom receiving one Buy rating, one Hold rating, and one Sell rating, resulting in a consensus rating of "Hold."
• Institutional investors currently own 13.56% of Mobilicom, with multiple firms recently establishing or increasing stakes in the company.

Shares of Mobilicom Limited Sponsored ADR (NASDAQ:MOB - Get Free Report) dropped 8% during trading on Wednesday . The stock traded as low as $8.36 and last traded at $8.61. Approximately 975,719 shares traded hands during trading, an increase of 52% from the average daily volume of 643,342 shares. The stock had previously closed at $9.36.

Analyst Ratings Changes

Several research firms have weighed in on MOB. Wall Street Zen raised shares of Mobilicom from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Mobilicom in a research report on Wednesday, October 8th. Litchfield Hills Research assumed coverage on Mobilicom in a research note on Tuesday, September 2nd. They set a "buy" rating and a $2,750.00 target price on the stock. Finally, Zacks Research upgraded Mobilicom to a "hold" rating in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Mobilicom currently has a consensus rating of "Hold" and an average target price of $2,750.00.

Mobilicom Trading Down 8.0%

The stock's 50-day simple moving average is $1,691.36 and its 200-day simple moving average is $1,002.81. The company has a current ratio of 6.94, a quick ratio of 6.15 and a debt-to-equity ratio of 0.07.

Hedge Funds Weigh In On Mobilicom

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new stake in shares of Mobilicom during the 2nd quarter valued at $184,000. Ground Swell Capital LLC acquired a new position in Mobilicom in the first quarter valued at about $39,000. Corsair Capital Management L.P. bought a new stake in Mobilicom during the second quarter worth about $50,000. PFG Investments LLC acquired a new stake in Mobilicom during the first quarter worth about $30,000. 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 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.

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