FTAI Infrastructure (NASDAQ:FIP) Stock Price Down 4.4% – Here’s Why

FTAI Infrastructure Inc. (NASDAQ:FIP) was down 4.4% during trading on Thursday . The stock traded as low as $6.56 and last traded at $6.44. Approximately 177,103 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 887,986 shares. The stock had previously closed at $6.73.

FTAI Infrastructure Trading Up 1.4 %

The company has a 50 day moving average of $7.35 and a 200 day moving average of $8.45. The firm has a market cap of $741.65 million, a P/E ratio of -3.29 and a beta of 1.44. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.42 and a current ratio of 1.42.

Institutional Trading of FTAI Infrastructure

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in FTAI Infrastructure by 12.6% during the fourth quarter. Vanguard Group Inc. now owns 6,537,542 shares of the company’s stock valued at $47,463,000 after purchasing an additional 730,895 shares during the last quarter. Luxor Capital Group LP lifted its holdings in shares of FTAI Infrastructure by 4.6% during the third quarter. Luxor Capital Group LP now owns 5,940,484 shares of the company’s stock valued at $55,603,000 after acquiring an additional 258,591 shares during the period. Hood River Capital Management LLC increased its holdings in FTAI Infrastructure by 32.7% during the 4th quarter. Hood River Capital Management LLC now owns 5,891,840 shares of the company’s stock valued at $42,775,000 after purchasing an additional 1,452,567 shares in the last quarter. Capital International Investors raised its holdings in shares of FTAI Infrastructure by 17.0% in the fourth quarter. Capital International Investors now owns 5,345,350 shares of the company’s stock valued at $38,807,000 after buying an additional 778,376 shares during the last quarter. Finally, State Street Corp grew its stake in shares of FTAI Infrastructure by 2.2% during the third quarter. State Street Corp now owns 2,543,305 shares of the company’s stock valued at $23,805,000 after purchasing an additional 55,936 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

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.