Short Interest in Mobile Infrastructure Corporation (NASDAQ:BEEP) Drops By 23.3%

Key Points

• Short interest in Mobile Infrastructure Corporation (NASDAQ:BEEP) decreased by 23.3% in August, with 303,800 shares sold short as of August 31.
• Geode Capital Management boosted its holdings in Mobile Infrastructure by 44.9% during the second quarter, highlighting increased institutional interest in the stock.
• Despite missing earnings estimates, analysts maintain a consensus "Buy" rating for BEEP with an average price target of $5.88.

Mobile Infrastructure Corporation (NASDAQ:BEEP - Get Free Report) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 303,800 shares, a decrease of 23.3% from the August 15th total of 396,100 shares. Approximately 0.8% of the company's shares are short sold. Based on an average daily volume of 58,300 shares, the days-to-cover ratio is currently 5.2 days. Based on an average daily volume of 58,300 shares, the days-to-cover ratio is currently 5.2 days. Approximately 0.8% of the company's shares are short sold.

Mobile Infrastructure Trading Up 4.8%

Shares of NASDAQ:BEEP traded up $0.15 during mid-day trading on Friday, reaching $3.29. 714,953 shares of the company's stock were exchanged, compared to its average volume of 44,493. The firm has a market capitalization of $140.48 million, a price-to-earnings ratio of -10.97 and a beta of 0.55. The business's fifty day moving average price is $3.73 and its 200-day moving average price is $3.94. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.10 and a current ratio of 0.10. Mobile Infrastructure has a twelve month low of $2.75 and a twelve month high of $4.86.

Mobile Infrastructure (NASDAQ:BEEP - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.01). The business had revenue of $8.99 million for the quarter, compared to analyst estimates of $9.39 million. Mobile Infrastructure had a negative return on equity of 5.58% and a negative net margin of 28.91%. Mobile Infrastructure has set its FY 2025 guidance at EPS. On average, research analysts predict that Mobile Infrastructure will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MAI Capital Management increased its stake in shares of Mobile Infrastructure by 99.3% in the 1st quarter. MAI Capital Management now owns 6,253 shares of the company's stock worth $26,000 after acquiring an additional 3,116 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Mobile Infrastructure in the 2nd quarter worth about $36,000. Raymond James Financial Inc. bought a new position in shares of Mobile Infrastructure in the 2nd quarter worth about $39,000. J.W. Cole Advisors Inc. bought a new position in shares of Mobile Infrastructure in the 2nd quarter worth about $54,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Mobile Infrastructure by 60,134.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 13,854 shares of the company's stock worth $63,000 after acquiring an additional 13,831 shares in the last quarter. 84.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Barrington Research restated an "outperform" rating and issued a $6.50 price objective on shares of Mobile Infrastructure in a research report on Friday, August 15th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Mobile Infrastructure presently has an average rating of "Buy" and an average target price of $5.88.

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.