Short Interest in FTAI Infrastructure Inc. (NASDAQ:FIP) Rises By 24.7%

FTAI Infrastructure Inc. (NASDAQ:FIP) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 6,860,000 shares, an increase of 24.7% from the August 31st total of 5,500,000 shares. Currently, 6.7% of the company’s shares are short sold. Based on an average daily trading volume, of 1,550,000 shares, the days-to-cover ratio is currently 4.4 days.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FIP. JMP Securities reaffirmed a “market outperform” rating and set a $12.00 target price on shares of FTAI Infrastructure in a research note on Monday, August 5th. BTIG Research boosted their price objective on shares of FTAI Infrastructure from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, June 6th.

FTAI Infrastructure Stock Up 0.2 %

Shares of NASDAQ:FIP traded up $0.02 during midday trading on Friday, hitting $9.13. 696,201 shares of the stock were exchanged, compared to its average volume of 1,195,869. The business’s fifty day simple moving average is $9.28 and its two-hundred day simple moving average is $8.24. The company has a debt-to-equity ratio of 5.42, a quick ratio of 2.10 and a current ratio of 2.10. FTAI Infrastructure has a 52-week low of $2.84 and a 52-week high of $10.45. The company has a market capitalization of $928.47 million, a PE ratio of -4.71 and a beta of 1.29.

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

FTAI Infrastructure Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, August 12th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.12 annualized dividend and a dividend yield of 1.31%. FTAI Infrastructure’s dividend payout ratio (DPR) is -6.19%.

Insiders Place Their Bets

In related 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 completion of the transaction, the insider now owns 8,418,561 shares of the company’s stock, valued at approximately $76,103,791.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FIP. ProShare Advisors LLC grew its holdings in FTAI Infrastructure by 8.5% during the first quarter. ProShare Advisors LLC now owns 17,783 shares of the company’s stock valued at $112,000 after purchasing an additional 1,400 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in FTAI Infrastructure by 8.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,989 shares of the company’s stock worth $336,000 after acquiring an additional 3,158 shares during the period. Price T Rowe Associates Inc. MD lifted its position in FTAI Infrastructure by 22.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,483 shares of the company’s stock worth $179,000 after acquiring an additional 5,244 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of FTAI Infrastructure in the fourth quarter valued at about $39,000. Finally, Algert Global LLC bought a new position in shares of FTAI Infrastructure in the second quarter worth about $88,000. Institutional investors 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.