FTAI Infrastructure (NASDAQ:FIP) Stock Breaks Above 50-Day Moving Average Following Weak Earnings

Key Points

• FTAI Infrastructure shares rose 6.9% and moved above their 50-day moving average, trading as high as $3.15 and last at $2.94.
• Quarterly revenue of $218.97 million topped estimates of $195.03 million, but EPS of negative $1.27 missed expectations of negative $0.55.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $9.95, with four Buy ratings and one Sell rating.

FTAI Infrastructure Inc. (NASDAQ:FIP - Get Free Report) crossed above its 50 day moving average during trading on Thursday following a stronger than expected earnings report. The stock has a 50 day moving average of $2.89 and traded as high as $3.15. FTAI Infrastructure shares last traded at $2.94, with a volume of 2,598,016 shares.

The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.72). The firm had revenue of $218.97 million during the quarter, compared to the consensus estimate of $195.03 million.

Analyst Ratings Changes

Several brokerages have issued reports on FIP. Jefferies Financial Group set a $10.00 price target on FTAI Infrastructure in a research note on Tuesday, September 29th. Citigroup reaffirmed a "market outperform" rating on shares of FTAI Infrastructure in a research report on Tuesday, September 29th. Wall Street Zen lowered shares of FTAI Infrastructure from a "sell" rating to a "strong sell" rating in a research note on Monday, July 20th. BTIG Research reiterated a "buy" rating and set a $9.00 target price on shares of FTAI Infrastructure in a research report on Monday, September 28th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of FTAI Infrastructure in a research note on Wednesday, September 9th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, FTAI Infrastructure currently has an average rating of "Moderate Buy" and an average target price of $9.95.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in FTAI Infrastructure by 10.3% during the second quarter. Wellington Management Group LLP now owns 13,490,351 shares of the company's stock worth $62,595,000 after buying an additional 1,259,468 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of FTAI Infrastructure during the second quarter valued at about $8,591,000. Fifth Third Bancorp acquired a new position in shares of FTAI Infrastructure during the first quarter valued at about $1,839,000. Teachers Retirement System of The State of Kentucky increased its position in shares of FTAI Infrastructure by 43.5% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 433,930 shares of the company's stock worth $2,144,000 after acquiring an additional 131,521 shares in the last quarter. Finally, CenterBook Partners LP increased its position in shares of FTAI Infrastructure by 77.6% during the third quarter. CenterBook Partners LP now owns 3,485,831 shares of the company's stock worth $9,621,000 after acquiring an additional 1,522,854 shares in the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

FTAI Infrastructure Stock Up 6.9%

The company has a market capitalization of $347.45 million, a P/E ratio of -0.57 and a beta of 1.82. The firm's 50-day moving average price is $2.89 and its 200 day moving average price is $4.46.

FTAI Infrastructure Company Profile

FTAI Infrastructure Inc is an infrastructure company that owns and operates critical transportation and energy assets. Its portfolio is designed to support the movement, storage and processing of essential commodities and industrial products, with a focus on long-lived infrastructure that serves industrial and logistics customers.

The company's businesses include Transtar, an industrial rail network serving manufacturing facilities, ports and other freight customers; Jefferson Terminal, a multimodal port and logistics facility on the U.S.

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