FTAI Infrastructure Inc. (NASDAQ:FIP) Sees Significant Drop in Short Interest

FTAI Infrastructure Inc. (NASDAQ:FIP) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 5,500,000 shares, a drop of 6.6% from the August 15th total of 5,890,000 shares. Currently, 5.4% of the shares of the stock are sold short. Based on an average daily volume of 1,520,000 shares, the short-interest ratio is presently 3.6 days.

FTAI Infrastructure Stock Up 0.2 %

Shares of FTAI Infrastructure stock traded up $0.02 on Wednesday, hitting $9.38. The company had a trading volume of 22,582 shares, compared to its average volume of 1,192,871. The stock has a 50-day moving average of $9.33 and a 200-day moving average of $8.06. The company has a debt-to-equity ratio of 5.42, a current ratio of 2.10 and a quick ratio of 2.10. FTAI Infrastructure has a twelve month low of $2.84 and a twelve month high of $10.45. The firm has a market capitalization of $953.89 million, a P/E ratio of -4.82 and a beta of 1.29.

FTAI Infrastructure (NASDAQ:FIP) last announced its earnings results on Friday, August 2nd. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.17). FTAI Infrastructure had a negative return on equity of 44.09% and a negative net margin of 49.85%. The company had revenue of $84.89 million during the quarter.

FTAI Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, August 12th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Monday, August 12th. FTAI Infrastructure’s dividend payout ratio is presently -6.19%.

Insider Activity at FTAI Infrastructure

In other FTAI Infrastructure news, major shareholder Fig Buyer Gp, Llc sold 3,399,501 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $9.04, for a total value of $30,731,489.04. Following the transaction, the insider now directly owns 8,418,561 shares of the company’s stock, valued at $76,103,791.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FTAI Infrastructure

A number of large investors have recently bought and sold shares of FIP. Quadrature Capital Ltd acquired a new position in shares of FTAI Infrastructure during the 4th quarter worth approximately $39,000. Cantor Fitzgerald Investment Advisors L.P. bought a new position in FTAI Infrastructure during the fourth quarter worth about $41,000. Victory Capital Management Inc. grew its position in shares of FTAI Infrastructure by 23.2% during the 4th quarter. Victory Capital Management Inc. now owns 13,200 shares of the company’s stock worth $51,000 after purchasing an additional 2,490 shares in the last quarter. Algert Global LLC bought a new position in shares of FTAI Infrastructure during the second quarter worth approximately $88,000. Finally, Choreo LLC acquired a new stake in shares of FTAI Infrastructure in the second quarter valued at approximately $100,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

Analyst Upgrades and Downgrades

FIP has been the topic of a number of recent research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $12.00 price objective on shares of FTAI Infrastructure in a research note on Monday, August 5th. BTIG Research lifted their price target on shares of FTAI Infrastructure from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th.

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.