FTAI Infrastructure (NASDAQ:FIP) Trading Up 4.2% – Time to Buy?

FTAI Infrastructure Inc. (NASDAQ:FIP) shares shot up 4.2% during mid-day trading on Thursday . The company traded as high as $7.30 and last traded at $7.32. 151,143 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 1,059,049 shares. The stock had previously closed at $7.02.

FTAI Infrastructure Trading Down 3.9 %

The firm has a market cap of $807.63 million, a price-to-earnings ratio of -3.59 and a beta of 1.45. The business has a fifty day moving average of $7.88 and a two-hundred day moving average of $8.74. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.42 and a current ratio of 1.42.

FTAI Infrastructure (NASDAQ:FIP) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.45) EPS for the quarter. FTAI Infrastructure had a negative return on equity of 46.25% and a negative net margin of 44.32%. The business had revenue of $83.31 million during the quarter.

FTAI Infrastructure Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th were given a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.12 annualized dividend and a dividend yield of 1.69%. FTAI Infrastructure’s dividend payout ratio is currently -6.06%.

Institutional Investors Weigh In On FTAI Infrastructure

Hedge funds have recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in FTAI Infrastructure in the third quarter valued at $34,000. US Bancorp DE acquired a new position in shares of FTAI Infrastructure during the 3rd quarter valued at about $52,000. Algert Global LLC purchased a new position in shares of FTAI Infrastructure during the 2nd quarter worth about $88,000. Cladis Investment Advisory LLC purchased a new position in shares of FTAI Infrastructure during the 3rd quarter worth about $94,000. Finally, International Assets Investment Management LLC boosted its position in shares of FTAI Infrastructure by 836.0% in the third quarter. International Assets Investment Management LLC now owns 15,182 shares of the company’s stock worth $142,000 after acquiring an additional 13,560 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

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.