FTAI Infrastructure Inc. (NASDAQ:FIP) Sees Large Increase in Short Interest

FTAI Infrastructure Inc. (NASDAQ:FIPGet Free Report) was the recipient of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 3,470,000 shares, a growth of 11.6% from the May 15th total of 3,110,000 shares. Based on an average daily volume of 1,330,000 shares, the days-to-cover ratio is currently 2.6 days. Currently, 3.5% of the shares of the stock are short sold.

FTAI Infrastructure Stock Down 1.9 %

Shares of NASDAQ:FIP traded down $0.15 during midday trading on Friday, hitting $7.89. 966,766 shares of the company’s stock traded hands, compared to its average volume of 1,684,371. The firm’s fifty day moving average price is $7.64 and its two-hundred day moving average price is $5.66. The company has a debt-to-equity ratio of 3.95, a quick ratio of 0.69 and a current ratio of 0.69. FTAI Infrastructure has a twelve month low of $2.84 and a twelve month high of $9.25. The company has a market cap of $802.33 million, a PE ratio of -4.07 and a beta of 1.35.

FTAI Infrastructure (NASDAQ:FIPGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.54) earnings per share (EPS) for the quarter. FTAI Infrastructure had a negative net margin of 49.44% and a negative return on equity of 37.21%. The firm had revenue of $82.54 million during the quarter.

FTAI Infrastructure Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Friday, May 17th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Thursday, May 16th. FTAI Infrastructure’s payout ratio is -6.19%.

Analysts Set New Price Targets

Separately, BTIG Research lifted their price objective on FTAI Infrastructure from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, June 6th.

Check Out Our Latest Stock Analysis on FIP

Institutional Trading of FTAI Infrastructure

Hedge funds and other institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new position in FTAI Infrastructure during the 4th quarter worth approximately $25,000. Quadrature Capital Ltd acquired a new position in FTAI Infrastructure in the fourth quarter worth $39,000. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in FTAI Infrastructure in the fourth quarter worth $41,000. Jump Financial LLC bought a new stake in FTAI Infrastructure during the third quarter valued at $46,000. Finally, Merit Financial Group LLC acquired a new stake in shares of FTAI Infrastructure during the fourth quarter worth $48,000. Institutional investors own 87.43% of the company’s stock.

About FTAI Infrastructure

(Get Free Report)

FTAI Infrastructure Inc focuses on acquiring, developing, and operating assets and businesses that represent infrastructure for customers in the transportation, energy, and industrial products industries in North America. The company operates through five segments: Railroad, Jefferson Terminal, Repauno, Power and Gas, and Sustainability and Energy Transition.

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