Short Interest in FTAI Infrastructure Inc. (NASDAQ:FIP) Declines By 6.4%

FTAI Infrastructure Inc. (NASDAQ:FIP) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 6,470,000 shares, a decline of 6.4% from the October 15th total of 6,910,000 shares. Currently, 6.3% of the shares of the stock are sold short. Based on an average daily volume of 1,290,000 shares, the days-to-cover ratio is currently 5.0 days.

FTAI Infrastructure Stock Performance

Shares of FIP traded down $0.19 during mid-day trading on Monday, hitting $8.24. 62,873 shares of the company’s stock were exchanged, compared to its average volume of 1,183,885. FTAI Infrastructure has a fifty-two week low of $3.42 and a fifty-two week high of $10.45. The business’s 50 day moving average is $9.00 and its two-hundred day moving average is $8.88. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 6.07. The firm has a market capitalization of $937.30 million, a P/E ratio of -4.26 and a beta of 1.36.

FTAI Infrastructure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, November 12th. FTAI Infrastructure’s dividend payout ratio is presently -6.06%.

Institutional Trading of FTAI Infrastructure

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in shares of FTAI Infrastructure by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,427,301 shares of the company’s stock worth $22,724,000 after purchasing an additional 53,340 shares during the last quarter. Barclays PLC lifted its holdings in FTAI Infrastructure by 283.8% in the 3rd quarter. Barclays PLC now owns 159,387 shares of the company’s stock valued at $1,492,000 after purchasing an additional 117,863 shares in the last quarter. Luxor Capital Group LP boosted its stake in shares of FTAI Infrastructure by 4.6% during the 3rd quarter. Luxor Capital Group LP now owns 5,940,484 shares of the company’s stock worth $55,603,000 after purchasing an additional 258,591 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of FTAI Infrastructure during the third quarter worth about $567,000. Finally, Wolverine Trading LLC acquired a new position in shares of FTAI Infrastructure in the third quarter valued at approximately $170,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reaffirmed a “market outperform” rating and issued a $12.00 price target on shares of FTAI Infrastructure in a report on Monday, August 5th.

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.