Mobile Infrastructure (NASDAQ:BEEP) Shares Down 8.3% - Time to Sell?

Mobile Infrastructure Co. (NASDAQ:BEEP - Get Free Report) was down 8.3% during trading on Tuesday . The company traded as low as $3.42 and last traded at $3.52. Approximately 48,516 shares were traded during mid-day trading, an increase of 26% from the average daily volume of 38,652 shares. The stock had previously closed at $3.84.

Analyst Ratings Changes

A number of research analysts have recently commented on BEEP shares. Piper Sandler started coverage on shares of Mobile Infrastructure in a report on Thursday, January 23rd. They issued an "overweight" rating and a $5.00 price target on the stock. B. Riley started coverage on shares of Mobile Infrastructure in a report on Thursday, January 23rd. They issued a "buy" rating and a $5.00 price target on the stock.

Mobile Infrastructure Trading Down 6.3 %

The company has a debt-to-equity ratio of 0.09, a current ratio of 0.10 and a quick ratio of 0.10. The stock's fifty day moving average price is $4.07 and its 200 day moving average price is $3.47. The stock has a market capitalization of $137.01 million, a P/E ratio of -3.63 and a beta of 0.58.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BEEP. No Street GP LP grew its holdings in Mobile Infrastructure by 49.1% during the 4th quarter. No Street GP LP now owns 24,296,528 shares of the company's stock worth $109,334,000 after acquiring an additional 7,997,842 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Mobile Infrastructure by 216.0% during the 3rd quarter. International Assets Investment Management LLC now owns 172,066 shares of the company's stock worth $564,000 after acquiring an additional 117,607 shares in the last quarter. Geode Capital Management LLC grew its holdings in Mobile Infrastructure by 32.5% during the 4th quarter. Geode Capital Management LLC now owns 375,584 shares of the company's stock worth $1,691,000 after acquiring an additional 92,110 shares in the last quarter. Northern Trust Corp grew its holdings in Mobile Infrastructure by 116.1% during the 4th quarter. Northern Trust Corp now owns 61,419 shares of the company's stock worth $276,000 after acquiring an additional 32,995 shares in the last quarter. Finally, Citadel Advisors LLC bought a new position in Mobile Infrastructure during the 4th quarter worth about $118,000. 84.30% of the stock is currently owned by institutional investors.

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.