Mobile Infrastructure Corporation (NASDAQ:BEEP) Short Interest Down 57.1% in June

Mobile Infrastructure Corporation (NASDAQ:BEEP) saw a significant decrease in short interest during the month of June. As of June 30th, there was short interest totaling 121,191 shares, a decrease of 57.1% from the June 15th total of 282,709 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average trading volume of 185,960 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Trading of Mobile Infrastructure

Several institutional investors have recently added to or reduced their stakes in the stock. Hodges Capital Management Inc. acquired a new position in Mobile Infrastructure in the first quarter worth about $46,000. Connective Capital Management LLC raised its stake in Mobile Infrastructure by 22.2% during the fourth quarter. Connective Capital Management LLC now owns 74,507 shares of the company’s stock valued at $190,000 after buying an additional 13,534 shares in the last quarter. XTX Topco Ltd acquired a new stake in Mobile Infrastructure during the fourth quarter valued at approximately $57,000. Bridgeway Capital Management LLC bought a new position in Mobile Infrastructure during the fourth quarter worth $26,000. Finally, State Street Corp lifted its stake in Mobile Infrastructure by 9.7% during the fourth quarter. State Street Corp now owns 118,200 shares of the company’s stock worth $301,000 after purchasing an additional 10,491 shares during the last quarter. 84.30% of the stock is owned by institutional investors and hedge funds.

Mobile Infrastructure Stock Up 5.2%

BEEP traded up $0.10 during trading hours on Wednesday, reaching $1.92. 13,869 shares of the stock traded hands, compared to its average volume of 55,901. Mobile Infrastructure has a fifty-two week low of $1.29 and a fifty-two week high of $4.07. The company has a market cap of $78.90 million, a price-to-earnings ratio of -3.04 and a beta of 0.62. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.09 and a quick ratio of 0.09. The firm’s fifty day simple moving average is $1.86 and its two-hundred day simple moving average is $2.35.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BEEP. Maxim Group decreased their price target on shares of Mobile Infrastructure from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Weiss Ratings restated a “sell (d)” rating on shares of Mobile Infrastructure in a research note on Wednesday, June 24th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $6.50 target price on shares of Mobile Infrastructure in a research report on Tuesday, May 19th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.25.

About Mobile Infrastructure

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. The Company also owns approximately 0.2 million square feet of retail/commercial space adjacent to its parking facilities.