Mobile Infrastructure (NASDAQ:BEEP) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Mobile Infrastructure (NASDAQ:BEEP) issued its quarterly earnings data on Tuesday. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01, FiscalAI reports. Mobile Infrastructure had a negative return on equity of 11.49% and a negative net margin of 70.76%.The business had revenue of $8.89 million for the quarter.

Mobile Infrastructure Price Performance

Mobile Infrastructure stock traded up $0.01 during mid-day trading on Tuesday, hitting $2.77. 137,797 shares of the company were exchanged, compared to its average volume of 55,991. The company has a market capitalization of $114.12 million, a PE ratio of -4.40 and a beta of 0.59. The business has a fifty day moving average of $1.82 and a 200 day moving average of $2.26. Mobile Infrastructure has a 1-year low of $1.29 and a 1-year high of $4.07. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.17.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BEEP shares. Weiss Ratings restated a “sell (d)” rating on shares of Mobile Infrastructure in a research note on Wednesday, June 24th. 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 report on Friday, May 15th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $6.50 price target on shares of Mobile Infrastructure in a research report on Tuesday, May 19th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Mobile Infrastructure has a consensus rating of “Hold” and a consensus price target of $6.25.

Hedge Funds Weigh In On Mobile Infrastructure

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hodges Capital Management Inc. bought a new stake in Mobile Infrastructure during the first quarter worth about $46,000. Connective Capital Management LLC raised its stake in shares of Mobile Infrastructure by 22.2% in the fourth 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 during the last quarter. XTX Topco Ltd acquired a new position in shares of Mobile Infrastructure in the 4th quarter worth approximately $57,000. Bridgeway Capital Management LLC acquired a new position in shares of Mobile Infrastructure in the 4th quarter worth approximately $26,000. Finally, State Street Corp grew its position in Mobile Infrastructure by 9.7% during the 4th quarter. State Street Corp now owns 118,200 shares of the company’s stock worth $301,000 after acquiring an additional 10,491 shares during the last quarter. 84.30% of the stock is currently owned by institutional investors and hedge funds.

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.