Mobile Infrastructure (NASDAQ:BEEP) Posts Quarterly Earnings Results

Mobile Infrastructure (NASDAQ:BEEP) posted its earnings results on Tuesday. The company reported ($0.18) EPS for the quarter, FiscalAI reports. Mobile Infrastructure had a negative return on equity of 10.93% and a negative net margin of 61.13%.The business had revenue of $7.93 million for the quarter.

Mobile Infrastructure Stock Performance

Shares of NASDAQ:BEEP traded down $0.28 during midday trading on Tuesday, reaching $1.94. The company had a trading volume of 33,141 shares, compared to its average volume of 40,852. The stock has a market cap of $79.91 million, a P/E ratio of -3.53 and a beta of 0.50. The company’s 50 day moving average price is $2.31 and its 200 day moving average price is $2.76. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.16. Mobile Infrastructure has a 52-week low of $1.76 and a 52-week high of $4.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BEEP. JPMorgan Chase & Co. raised its holdings in Mobile Infrastructure by 63.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,702 shares of the company’s stock valued at $80,000 after acquiring an additional 8,848 shares during the period. Citadel Advisors LLC bought a new position in shares of Mobile Infrastructure in the third quarter worth $79,000. XTX Topco Ltd purchased a new position in shares of Mobile Infrastructure in the fourth quarter valued at $57,000. Goldman Sachs Group Inc. purchased a new position in shares of Mobile Infrastructure in the fourth quarter valued at $44,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Mobile Infrastructure during the 2nd quarter valued at $39,000. 84.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Mobile Infrastructure in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $6.50.

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.