FTAI Infrastructure Inc. (NASDAQ:FIP) Short Interest Up 52.2% in June

FTAI Infrastructure Inc. (NASDAQ:FIP) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 5,280,000 shares, a growth of 52.2% from the May 31st total of 3,470,000 shares. Approximately 5.3% of the company’s stock are short sold. Based on an average daily volume of 1,410,000 shares, the short-interest ratio is currently 3.7 days.

FTAI Infrastructure Trading Up 0.3 %

NASDAQ:FIP opened at $8.63 on Monday. The company has a market cap of $877.58 million, a PE ratio of -4.45 and a beta of 1.35. The business’s 50 day moving average is $7.99 and its two-hundred day moving average is $5.98. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.95. FTAI Infrastructure has a 52 week low of $2.84 and a 52 week high of $9.25.

FTAI Infrastructure (NASDAQ:FIP) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.54) earnings per share (EPS) for the quarter. The business had revenue of $82.54 million during the quarter. FTAI Infrastructure had a negative return on equity of 37.21% and a negative net margin of 49.44%.

FTAI Infrastructure Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Friday, May 17th were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, May 16th. This represents a $0.12 dividend on an annualized basis and a yield of 1.39%. FTAI Infrastructure’s payout ratio is currently -6.19%.

Hedge Funds Weigh In On FTAI Infrastructure

Several hedge funds and other institutional investors have recently modified their holdings of FIP. International Assets Investment Management LLC acquired a new stake in shares of FTAI Infrastructure in the 4th quarter worth about $25,000. Quadrature Capital Ltd bought a new stake in shares of FTAI Infrastructure during the fourth quarter valued at approximately $39,000. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in shares of FTAI Infrastructure during the fourth quarter worth approximately $41,000. Merit Financial Group LLC bought a new position in FTAI Infrastructure in the 4th quarter worth approximately $48,000. Finally, Victory Capital Management Inc. increased its position in FTAI Infrastructure by 23.2% in the 4th quarter. Victory Capital Management Inc. now owns 13,200 shares of the company’s stock valued at $51,000 after acquiring an additional 2,490 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

Analyst Ratings Changes

FIP has been the topic of several analyst reports. JMP Securities assumed coverage on FTAI Infrastructure in a report on Wednesday, June 26th. They set a “market outperform” rating and a $11.00 price objective on the stock. BTIG Research raised 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.