FTAI Infrastructure (NASDAQ:FIP) Shares Gap Down to $10.03

FTAI Infrastructure Inc. (NASDAQ:FIP) shares gapped down before the market opened on Friday . The stock had previously closed at $10.03, but opened at $9.03. FTAI Infrastructure shares last traded at $9.79, with a volume of 230,462 shares traded.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. JMP Securities lifted their target price on shares of FTAI Infrastructure from $11.00 to $12.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 23rd. BTIG Research lifted their price target on FTAI Infrastructure from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, June 6th.

FTAI Infrastructure Stock Performance

The stock’s 50-day moving average price is $8.87 and its 200 day moving average price is $6.89. 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) last issued its quarterly earnings results 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 business had revenue of $82.54 million during the quarter.

FTAI Infrastructure Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Friday, May 17th were issued a dividend of $0.03 per share. The ex-dividend date was Thursday, May 16th. This represents a $0.12 annualized dividend and a yield of 1.24%. FTAI Infrastructure’s payout ratio is presently -6.19%.

Institutional Investors Weigh In On FTAI Infrastructure

Several large investors have recently made changes to their positions in FIP. International Assets Investment Management LLC acquired a new stake in FTAI Infrastructure in the 4th quarter valued at about $25,000. Quadrature Capital Ltd bought a new position in shares of FTAI Infrastructure during the 4th quarter worth approximately $39,000. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in shares of FTAI Infrastructure during the 4th quarter worth approximately $41,000. Merit Financial Group LLC bought a new position in shares of FTAI Infrastructure in the fourth quarter valued at about $48,000. Finally, Victory Capital Management Inc. raised its holdings in FTAI Infrastructure by 23.2% in the 4th quarter. Victory Capital Management Inc. now owns 13,200 shares of the company’s stock valued at $51,000 after acquiring an additional 2,490 shares during the period. Institutional investors and hedge funds 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.