FTAI Infrastructure (NASDAQ:FIP) Stock Price Up 3.7%

FTAI Infrastructure Inc. (NASDAQ:FIP) shares shot up 3.7% during trading on Thursday . The company traded as high as $6.90 and last traded at $6.79. Approximately 98,287 shares changed hands during trading, a decline of 86% from the average daily volume of 691,401 shares. The stock had previously closed at $6.55.

Analysts Set New Price Targets

Separately, BTIG Research initiated coverage on FTAI Infrastructure in a report on Thursday. They set a “buy” rating and a $10.00 price objective for the company.

FTAI Infrastructure Stock Up 2.7 %

The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 3.25. The company has a market cap of $684.37 million, a P/E ratio of -3.64 and a beta of 1.51. The firm’s 50 day moving average price is $5.51 and its 200-day moving average price is $4.30.

FTAI Infrastructure (NASDAQ:FIP) last posted its earnings results on Thursday, February 29th. The company reported ($0.47) earnings per share (EPS) for the quarter. FTAI Infrastructure had a negative return on equity of 32.27% and a negative net margin of 48.71%. The business had revenue of $81.44 million for the quarter.

FTAI Infrastructure Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Wednesday, March 27th were given a dividend of $0.03 per share. The ex-dividend date was Tuesday, March 26th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.78%. FTAI Infrastructure’s payout ratio is -6.67%.

Institutional Trading of FTAI Infrastructure

A number of institutional investors and hedge funds have recently made changes to their positions in FIP. BlackRock Inc. increased its position in FTAI Infrastructure by 472.9% in the 2nd quarter. BlackRock Inc. now owns 8,246,861 shares of the company’s stock valued at $30,431,000 after acquiring an additional 6,807,302 shares during the period. Morgan Stanley bought a new stake in FTAI Infrastructure during the 4th quarter valued at $12,688,000. Pingora Partners LLC bought a new stake in FTAI Infrastructure during the 4th quarter worth approximately $6,102,000. Luxor Capital Group LP raised its stake in shares of FTAI Infrastructure by 49.0% in the fourth quarter. Luxor Capital Group LP now owns 4,269,813 shares of the company’s stock worth $16,610,000 after purchasing an additional 1,403,628 shares during the last quarter. Finally, State Street Corp boosted its position in shares of FTAI Infrastructure by 342.3% during the second quarter. State Street Corp now owns 1,799,541 shares of the company’s stock valued at $6,640,000 after buying an additional 1,392,641 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.

FTAI Infrastructure Company Profile

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.