FTAI Infrastructure (NASDAQ:FIP) Trading 8.6% Higher - Here's What Happened

FTAI Infrastructure Inc. (NASDAQ:FIP - Get Free Report)'s share price traded up 8.6% on Tuesday . The stock traded as high as $6.17 and last traded at $5.93. 546,636 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 1,353,514 shares. The stock had previously closed at $5.46.

Analyst Upgrades and Downgrades

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

FTAI Infrastructure Stock Down 2.9%

The stock's fifty day moving average price is $4.44 and its 200-day moving average price is $6.18. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 6.07. The company has a market capitalization of $698.89 million, a price-to-earnings ratio of -3.08 and a beta of 1.70.

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

FTAI Infrastructure Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 19th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.12 annualized dividend and a yield of 1.97%. FTAI Infrastructure's payout ratio is presently -9.09%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Northern Trust Corp boosted its holdings in shares of FTAI Infrastructure by 7.0% in the 4th quarter. Northern Trust Corp now owns 913,981 shares of the company's stock valued at $6,636,000 after buying an additional 59,674 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of FTAI Infrastructure by 6.6% during the 4th quarter. JPMorgan Chase & Co. now owns 552,459 shares of the company's stock worth $4,011,000 after acquiring an additional 34,165 shares during the last quarter. Swiss National Bank grew its holdings in FTAI Infrastructure by 9.3% in the 4th quarter. Swiss National Bank now owns 218,700 shares of the company's stock valued at $1,588,000 after buying an additional 18,600 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in FTAI Infrastructure by 7.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,386 shares of the company's stock worth $6,646,000 after buying an additional 67,023 shares during the period. Finally, AlphaQuest LLC acquired a new stake in shares of FTAI Infrastructure during the fourth quarter worth $527,000. 87.43% of the stock is currently owned by institutional investors.

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.