FTAI Infrastructure Inc. (NASDAQ:FIP) Sees Large Growth in Short Interest

FTAI Infrastructure Inc. (NASDAQ:FIP) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 7,190,000 shares, a growth of 14.9% from the November 30th total of 6,260,000 shares. Approximately 6.6% of the shares of the company are sold short. Based on an average daily volume of 1,140,000 shares, the days-to-cover ratio is currently 6.3 days.

FTAI Infrastructure Stock Performance

FIP stock traded down $0.04 during midday trading on Monday, hitting $7.07. 1,020,997 shares of the stock traded hands, compared to its average volume of 1,182,914. FTAI Infrastructure has a 1-year low of $3.42 and a 1-year high of $10.45. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.42 and a quick ratio of 1.42. The stock’s fifty day simple moving average is $8.39 and its 200-day simple moving average is $8.89. The firm has a market cap of $804.18 million, a P/E ratio of -3.57 and a beta of 1.34.

FTAI Infrastructure Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Tuesday, November 12th. FTAI Infrastructure’s dividend payout ratio (DPR) is presently -6.06%.

Hedge Funds Weigh In On FTAI Infrastructure

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp grew its stake in FTAI Infrastructure by 8.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 794,868 shares of the company’s stock valued at $6,860,000 after acquiring an additional 65,218 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in FTAI Infrastructure during the second quarter valued at $134,000. Rhumbline Advisers grew its position in shares of FTAI Infrastructure by 17.1% in the second quarter. Rhumbline Advisers now owns 154,509 shares of the company’s stock valued at $1,333,000 after purchasing an additional 22,569 shares during the period. Arizona State Retirement System purchased a new stake in shares of FTAI Infrastructure during the second quarter worth about $246,000. Finally, Choreo LLC purchased a new stake in shares of FTAI Infrastructure during the second quarter worth about $100,000. Hedge funds and other institutional investors 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.