FTAI Infrastructure (NASDAQ:FIP) Stock Price Up 7.3% – Should You Buy?

FTAI Infrastructure Inc. (NASDAQ:FIP)’s share price traded up 7.3% during trading on Friday . The company traded as high as $9.71 and last traded at $9.70. 351,189 shares changed hands during trading, a decline of 70% from the average session volume of 1,188,290 shares. The stock had previously closed at $9.04.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. BTIG Research increased their target price 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. JMP Securities restated a “market outperform” rating and issued a $12.00 target price on shares of FTAI Infrastructure in a research note on Monday, August 5th.

FTAI Infrastructure Price Performance

The business’s 50-day simple moving average is $9.21 and its two-hundred day simple moving average is $8.33. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 5.42. The stock has a market cap of $993.55 million, a P/E ratio of -4.91 and a beta of 1.28.

FTAI Infrastructure (NASDAQ:FIP) last released its quarterly earnings data 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 net margin of 49.85% and a negative return on equity of 44.09%. The business had revenue of $84.89 million during the quarter.

FTAI Infrastructure Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, August 12th were paid a dividend of $0.03 per share. The ex-dividend date was Monday, August 12th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.23%. FTAI Infrastructure’s payout ratio is -6.19%.

Insider Activity

In other 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 directly owns 8,418,561 shares in the company, valued at approximately $76,103,791.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On FTAI Infrastructure

Several large investors have recently added to or reduced their stakes in FIP. Quadrature Capital Ltd purchased a new stake in shares of FTAI Infrastructure in the 4th quarter worth about $39,000. Algert Global LLC bought a new position in FTAI Infrastructure in the second quarter valued at about $88,000. Choreo LLC purchased a new position in FTAI Infrastructure in the second quarter worth about $100,000. ProShare Advisors LLC grew its stake in shares of FTAI Infrastructure by 8.5% during the 1st 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 period. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of FTAI Infrastructure during the 2nd quarter valued at about $134,000. Institutional investors 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.