FTAI Infrastructure Inc. (NASDAQ:FIP – Get Free Report) shares were down 5% during mid-day trading on Wednesday . The stock traded as low as $8.92 and last traded at $8.92. Approximately 168,180 shares traded hands during trading, a decline of 84% from the average daily volume of 1,034,046 shares. The stock had previously closed at $9.39.
Wall Street Analysts Forecast Growth
FIP has been the topic of several analyst reports. JMP Securities initiated coverage on shares of FTAI Infrastructure in a report on Wednesday, June 26th. They issued a “market outperform” rating and a $11.00 target price on the stock. BTIG Research raised their target price on shares of FTAI Infrastructure from $10.00 to $11.00 and gave the company a “buy” rating in a report on Thursday, June 6th.
Read Our Latest Stock Analysis on FTAI Infrastructure
FTAI Infrastructure Stock Performance
The company’s fifty day moving average is $8.33 and its two-hundred day moving average is $6.27. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.95.
FTAI Infrastructure (NASDAQ:FIP – Get Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.54) EPS for the quarter. The company had revenue of $82.54 million during the quarter. FTAI Infrastructure had a negative net margin of 49.44% and a negative return on equity of 37.21%.
FTAI Infrastructure Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Friday, May 17th were paid a $0.03 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.12 annualized dividend and a yield of 1.32%. FTAI Infrastructure’s dividend payout ratio is currently -6.19%.
Hedge Funds Weigh In On FTAI Infrastructure
Hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new position in FTAI Infrastructure in the fourth quarter valued at approximately $25,000. Quadrature Capital Ltd purchased a new position in shares of FTAI Infrastructure during the fourth quarter worth approximately $39,000. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in shares of FTAI Infrastructure during the fourth quarter worth approximately $41,000. Merit Financial Group LLC purchased a new position in shares of FTAI Infrastructure during the fourth quarter worth approximately $48,000. Finally, Victory Capital Management Inc. grew its position in shares of FTAI Infrastructure by 23.2% during the fourth quarter. Victory Capital Management Inc. now owns 13,200 shares of the company’s stock worth $51,000 after acquiring an additional 2,490 shares during the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.
About FTAI Infrastructure
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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