FTAI Infrastructure (NASDAQ:FIP) Shares Gap Up - Here's Why

FTAI Infrastructure Inc. (NASDAQ:FIP - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $5.00, but opened at $5.32. FTAI Infrastructure shares last traded at $5.35, with a volume of 674,645 shares changing hands.

Wall Street Analyst Weigh In

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

FTAI Infrastructure Stock Up 9.2%

The stock has a market cap of $626.60 million, a price-to-earnings ratio of -2.76 and a beta of 1.70. The firm's fifty day moving average price is $4.39 and its two-hundred day moving average price is $6.20. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.42 and a quick ratio of 1.42.

FTAI Infrastructure (NASDAQ:FIP - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of ($0.34) by $1.23. FTAI Infrastructure had a negative return on equity of 46.25% and a negative net margin of 44.32%. The business had revenue of $96.16 million for the quarter, compared to the consensus estimate of $107.84 million.

FTAI Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Monday, May 19th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Monday, May 19th. FTAI Infrastructure's dividend payout ratio is currently -9.09%.

Institutional Investors Weigh In On FTAI Infrastructure

Several hedge funds and other institutional investors have recently made changes to their positions in FIP. Aristeia Capital L.L.C. acquired a new position in FTAI Infrastructure during the 1st quarter valued at about $286,000. Dynamic Technology Lab Private Ltd boosted its position in shares of FTAI Infrastructure by 41.8% during the first quarter. Dynamic Technology Lab Private Ltd now owns 66,232 shares of the company's stock valued at $300,000 after buying an additional 19,533 shares during the last quarter. Pingora Partners LLC grew its holdings in FTAI Infrastructure by 4.9% during the first quarter. Pingora Partners LLC now owns 1,490,744 shares of the company's stock worth $6,753,000 after buying an additional 69,475 shares in the last quarter. Graham Capital Management L.P. grew its holdings in FTAI Infrastructure by 95.4% during the first quarter. Graham Capital Management L.P. now owns 128,135 shares of the company's stock worth $580,000 after buying an additional 62,555 shares in the last quarter. Finally, Caption Management LLC purchased a new stake in FTAI Infrastructure in the 1st quarter valued at $508,000. 87.43% of the stock is 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.