Mobilicom Limited Sponsored ADR (NASDAQ:MOB) Short Interest Update

Key Points

• Short interest in Mobilicom Limited (NASDAQ:MOB) increased by 27.2% in August, with a total of 1,120,000 shares shorted as of August 31st.
• Mobilicom received multiple analyst upgrades, including a shift from a "sell" to a "hold" rating and a new "buy" rating with a $10.00 price objective.
• Institutional investors own approximately 13.56% of Mobilicom's stock, with recent purchases reflecting a growing interest in the company's prospects.

Mobilicom Limited Sponsored ADR (NASDAQ:MOB - Get Free Report) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 1,120,000 shares, a growth of 27.2% from the August 15th total of 880,500 shares. Currently, 16.0% of the company's shares are short sold. Based on an average trading volume of 432,800 shares, the short-interest ratio is currently 2.6 days. Based on an average trading volume of 432,800 shares, the short-interest ratio is currently 2.6 days. Currently, 16.0% of the company's shares are short sold.

Mobilicom Stock Up 0.6%

MOB traded up $0.05 during trading hours on Friday, hitting $8.11. 515,829 shares of the company's stock were exchanged, compared to its average volume of 562,775. Mobilicom has a 12-month low of $1.03 and a 12-month high of $8.34. The firm has a 50 day moving average of $4.81 and a 200 day moving average of $3.04. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.94 and a quick ratio of 6.15.

Mobilicom's stock is set 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.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MOB. Wall Street Zen raised shares of Mobilicom from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Zacks Research raised shares of Mobilicom to a "hold" rating in a research note on Wednesday, September 3rd. Finally, Litchfield Hills Research began coverage on shares of Mobilicom in a research note on Tuesday, September 2nd. They set a "buy" rating and a $10.00 target price on the stock. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $10.00.

Institutional Investors Weigh In On Mobilicom

Large investors have recently modified their holdings of the company. PFG Investments LLC acquired a new position in shares of Mobilicom in the 1st quarter valued at $30,000. Ground Swell Capital LLC acquired a new stake in shares of Mobilicom in the first quarter valued at about $39,000. Corsair Capital Management L.P. acquired a new stake in shares of Mobilicom in the second quarter valued at about $50,000. Jane Street Group LLC purchased a new position in Mobilicom during the 2nd quarter valued at about $184,000. Finally, Bard Associates Inc. grew its holdings in shares of Mobilicom by 2.4% during the first quarter. Bard Associates Inc. now owns 639,496 shares of the company's stock worth $1,055,000 after buying 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.