Shares of Mobile Infrastructure Corporation (NASDAQ:BEEP – Get Free Report) traded up 0.4% during mid-day trading on Wednesday . The company traded as high as $2.94 and last traded at $2.85. 16,278 shares traded hands during trading, a decline of 27% from the average session volume of 22,233 shares. The stock had previously closed at $2.84.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings lowered shares of Mobile Infrastructure from a “sell (d)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.25.
Get Our Latest Analysis on BEEP
Mobile Infrastructure Stock Performance
Mobile Infrastructure (NASDAQ:BEEP – Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. Mobile Infrastructure had a negative net margin of 67.22% and a negative return on equity of 11.25%. The company had revenue of $8.89 million during the quarter. On average, equities research analysts anticipate that Mobile Infrastructure Corporation will post -0.31 EPS for the current year.
Hedge Funds Weigh In On Mobile Infrastructure
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Concorde Asset Management LLC acquired a new stake in shares of Mobile Infrastructure in the second quarter valued at approximately $63,000. Hodges Capital Management Inc. acquired a new position in shares of Mobile Infrastructure in the 1st quarter worth approximately $46,000. Finally, Connective Capital Management LLC raised its position in shares of Mobile Infrastructure by 22.2% during the 4th quarter. Connective Capital Management LLC now owns 74,507 shares of the company’s stock valued at $190,000 after acquiring an additional 13,534 shares in the last quarter. Hedge funds and other institutional investors own 84.30% of the company’s stock.
Mobile Infrastructure Company Profile
Mobile Infrastructure Corporation (NASDAQ: BEEP) is a real estate company focused on acquiring, owning and operating parking infrastructure in the United States. Its portfolio includes parking garages, surface parking lots and other facilities that support vehicle storage and access in urban and high-demand locations.
The company generally generates revenue by leasing its parking assets to third-party operators and through related parking activities. Its facilities serve a range of customers, including commuters, residents, businesses, visitors and organizations that require convenient parking near commercial, residential, healthcare, entertainment and transportation destinations.
Mobile Infrastructure Corporation became a publicly traded company through a business combination with Fifth Wall Acquisition Corp.
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