Mobile Infrastructure Corporation (NASDAQ:BEEP – Get Free Report) shares dropped 1% on Tuesday . The stock traded as low as $1.84 and last traded at $1.89. Approximately 42,390 shares traded hands during trading, a decline of 31% from the average daily volume of 61,529 shares. The stock had previously closed at $1.91.
Analyst Upgrades and Downgrades
Several analysts have weighed in on BEEP shares. Weiss Ratings reissued a “sell (d)” rating on shares of Mobile Infrastructure in a report on Friday, March 27th. Maxim Group lowered their target price on Mobile Infrastructure from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Finally, Barrington Research reissued an “outperform” rating and issued a $6.50 target price on shares of Mobile Infrastructure in a report on Tuesday, May 19th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Mobile Infrastructure currently has an average rating of “Hold” and a consensus price target of $6.25.
Read Our Latest Analysis on BEEP
Mobile Infrastructure Trading Down 5.8%
Institutional Trading of Mobile Infrastructure
Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in Mobile Infrastructure by 63.9% during the third quarter. JPMorgan Chase & Co. now owns 22,702 shares of the company’s stock worth $80,000 after acquiring an additional 8,848 shares during the last quarter. Citadel Advisors LLC acquired a new stake in Mobile Infrastructure during the third quarter worth approximately $79,000. XTX Topco Ltd acquired a new stake in Mobile Infrastructure during the fourth quarter worth approximately $57,000. Goldman Sachs Group Inc. acquired a new stake in Mobile Infrastructure during the fourth quarter worth approximately $44,000. Finally, Raymond James Financial Inc. acquired a new stake in Mobile Infrastructure during the second quarter worth approximately $39,000. Institutional investors and hedge funds own 84.30% of the company’s stock.
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. The Company also owns approximately 0.2 million square feet of retail/commercial space adjacent to its parking facilities.
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