Short Interest in FTAI Infrastructure Inc. (NASDAQ:FIP) Declines By 7.1%

FTAI Infrastructure Inc. (NASDAQ:FIP) was the target of a significant decrease in short interest in July. As of July 15th, there was short interest totalling 5,590,000 shares, a decrease of 7.1% from the June 30th total of 6,020,000 shares. Currently, 5.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,470,000 shares, the days-to-cover ratio is currently 3.8 days.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FIP. JMP Securities upped their price objective on shares of FTAI Infrastructure from $11.00 to $12.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 23rd. BTIG Research raised their price objective on FTAI Infrastructure from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, June 6th.

Institutional Trading of FTAI Infrastructure

Several institutional investors have recently bought and sold shares of FIP. International Assets Investment Management LLC purchased a new stake in shares of FTAI Infrastructure during the fourth quarter valued at approximately $25,000. Quadrature Capital Ltd purchased a new position in shares of FTAI Infrastructure in the fourth quarter worth $39,000. Cantor Fitzgerald Investment Advisors L.P. bought a new position in shares of FTAI Infrastructure during the fourth quarter valued at $41,000. Merit Financial Group LLC bought a new position in shares of FTAI Infrastructure during the fourth quarter valued at $48,000. Finally, Victory Capital Management Inc. boosted its position in shares of FTAI Infrastructure by 23.2% during the fourth quarter. Victory Capital Management Inc. now owns 13,200 shares of the company’s stock valued at $51,000 after buying an additional 2,490 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

FTAI Infrastructure Stock Up 5.2 %

FIP traded up $0.51 on Wednesday, hitting $10.31. The company had a trading volume of 1,561,150 shares, compared to its average volume of 1,088,458. The company has a debt-to-equity ratio of 3.95, a current ratio of 0.69 and a quick ratio of 0.69. FTAI Infrastructure has a 52-week low of $2.84 and a 52-week high of $10.45. The firm has a market capitalization of $1.05 billion, a P/E ratio of -5.31 and a beta of 1.32. The stock has a fifty day simple moving average of $8.84 and a 200-day simple moving average of $6.87.

FTAI Infrastructure (NASDAQ:FIP) last released its 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 for the quarter.

FTAI Infrastructure Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Friday, May 17th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Thursday, May 16th. FTAI Infrastructure’s dividend payout ratio is presently -6.19%.

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.