FTAI Infrastructure (NASDAQ:FIP) Stock Price Up 7% – Still a Buy?

Shares of FTAI Infrastructure Inc. (NASDAQ:FIP) were up 7% during mid-day trading on Monday . The company traded as high as $5.06 and last traded at $5.0310. Approximately 280,245 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 1,620,569 shares. The stock had previously closed at $4.70.

Wall Street Analyst Weigh In

FIP has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of FTAI Infrastructure in a research report on Wednesday, October 8th. BTIG Research upped their price target on FTAI Infrastructure from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $11.00.

FTAI Infrastructure Stock Performance

The company has a market cap of $582.05 million, a P/E ratio of -2.04 and a beta of 1.88. The stock has a 50 day moving average price of $4.91 and a two-hundred day moving average price of $5.41. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 110.28.

FTAI Infrastructure (NASDAQ:FIP) last posted its earnings results on Thursday, October 30th. The company reported ($1.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.79). The firm had revenue of $140.56 million for the quarter, compared to analyst estimates of $146.37 million. FTAI Infrastructure had a negative return on equity of 75.13% and a negative net margin of 41.09%.

FTAI Infrastructure Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, November 14th. FTAI Infrastructure’s dividend payout ratio is presently -4.88%.

Institutional Investors Weigh In On FTAI Infrastructure

Several institutional investors have recently made changes to their positions in FIP. Russell Investments Group Ltd. raised its holdings in FTAI Infrastructure by 12,129.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 9,172 shares of the company’s stock valued at $40,000 after acquiring an additional 9,097 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of FTAI Infrastructure during the 2nd quarter worth $41,000. Optas LLC acquired a new position in FTAI Infrastructure in the third quarter valued at about $44,000. GSA Capital Partners LLP acquired a new position in FTAI Infrastructure in the third quarter valued at about $46,000. Finally, CIBC Bancorp USA Inc. bought a new stake in FTAI Infrastructure during the third quarter worth about $50,000. 87.43% of the stock is currently owned by institutional investors.

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.