FTAI Infrastructure (NASDAQ:FIP) Shares Down 10% - Here's Why

Key Points

• FTAI Infrastructure shares fell 10% to a low of $6.60, with a significant drop in trading volume of 46% compared to the average session.
• Despite the decline, JMP Securities maintains a "market outperform" rating with a price target of $12.00 for FTAI Infrastructure shares.
• FTAI Infrastructure reported $0.89 EPS for the quarter, exceeding estimates, but its revenue of $96.16 million fell short of expectations of $107.84 million.

FTAI Infrastructure Inc. (NASDAQ:FIP - Get Free Report) fell 10% on Thursday . The stock traded as low as $6.60 and last traded at $6.46. 715,981 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 1,323,091 shares. The stock had previously closed at $7.17.

Analyst Ratings Changes

Separately, JMP Securities reaffirmed a "market outperform" rating and issued a $12.00 price objective on shares of FTAI Infrastructure in a research report on Tuesday, April 22nd.

FTAI Infrastructure Trading Down 13.1%

The stock has a market cap of $714.95 million, a PE ratio of -4.72 and a beta of 1.89. The company has a debt-to-equity ratio of 7.90, a quick ratio of 0.86 and a current ratio of 0.86. The company has a 50 day moving average of $6.40 and a two-hundred day moving average of $5.63.

FTAI Infrastructure (NASDAQ:FIP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.34) by $1.23. The firm had revenue of $96.16 million for the quarter, compared to analysts' expectations of $107.84 million. FTAI Infrastructure had a negative net margin of 16.69% and a negative return on equity of 0.20%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FIP. Northern Trust Corp raised its holdings in shares of FTAI Infrastructure by 7.0% during the 4th quarter. Northern Trust Corp now owns 913,981 shares of the company's stock worth $6,636,000 after acquiring an additional 59,674 shares during the period. Bank of America Corp DE boosted its position in shares of FTAI Infrastructure by 25.5% during the fourth quarter. Bank of America Corp DE now owns 676,954 shares of the company's stock worth $4,915,000 after buying an additional 137,405 shares during the period. American Assets Investment Management LLC boosted its position in FTAI Infrastructure by 1,780.5% in the 1st quarter. American Assets Investment Management LLC now owns 3,584,490 shares of the company's stock valued at $16,238,000 after buying an additional 3,393,879 shares during the period. Ameriprise Financial Inc. increased its stake in shares of FTAI Infrastructure by 767.5% during the fourth quarter. Ameriprise Financial Inc. now owns 245,192 shares of the company's stock worth $1,780,000 after buying an additional 216,927 shares during the period. Finally, Two Sigma Advisers LP boosted its position in shares of FTAI Infrastructure by 37.8% during the 4th quarter. Two Sigma Advisers LP now owns 189,500 shares of the company's stock worth $1,376,000 after acquiring an additional 52,000 shares in the last quarter. Institutional investors and hedge funds 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.

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