FTAI Infrastructure (NASDAQ:FIP) Now Covered by Analysts at JonesTrading

JonesTrading began coverage on shares of FTAI Infrastructure (NASDAQ:FIP) in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm set a “buy” rating and a $8.75 price target on the stock. JonesTrading’s price target indicates a potential upside of 88.58% from the company’s current price.

Several other equities analysts have also recently issued reports on FIP. Compass Point set a $12.00 price objective on shares of FTAI Infrastructure in a research note on Tuesday. BTIG Research reduced their target price on shares of FTAI Infrastructure from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Wall Street Zen downgraded shares of FTAI Infrastructure from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of FTAI Infrastructure in a research note on Friday, June 12th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $9.92.

FTAI Infrastructure Stock Up 6.4%

FTAI Infrastructure stock opened at $4.64 on Wednesday. The stock has a 50 day moving average of $4.82 and a two-hundred day moving average of $5.22. FTAI Infrastructure has a twelve month low of $3.90 and a twelve month high of $7.93. The stock has a market capitalization of $548.26 million, a price-to-earnings ratio of -1.03 and a beta of 1.79. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 110.28.

FTAI Infrastructure (NASDAQ:FIP) last released its earnings results on Thursday, May 7th. The company reported ($1.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.90). FTAI Infrastructure had a negative net margin of 68.58% and a negative return on equity of 147.01%. The company had revenue of $188.36 million during the quarter, compared to analyst estimates of $182.41 million. FTAI Infrastructure’s quarterly revenue was up 95.8% compared to the same quarter last year.

Insider Activity at FTAI Infrastructure

In related news, CFO Carl Russell Iv Fletcher bought 10,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were bought at an average cost of $4.58 per share, for a total transaction of $45,800.00. Following the transaction, the chief financial officer owned 40,000 shares of the company’s stock, valued at approximately $183,200. This trade represents a 33.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.17% of the company’s stock.

Institutional Trading of FTAI Infrastructure

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its position in FTAI Infrastructure by 1.7% during the first quarter. Bank of America Corp DE now owns 281,015 shares of the company’s stock worth $1,388,000 after buying an additional 4,810 shares during the period. Royal Bank of Canada lifted its position in shares of FTAI Infrastructure by 47.2% during the 1st quarter. Royal Bank of Canada now owns 69,236 shares of the company’s stock valued at $341,000 after acquiring an additional 22,214 shares during the period. Quantinno Capital Management LP boosted its stake in shares of FTAI Infrastructure by 28.3% during the 1st quarter. Quantinno Capital Management LP now owns 86,840 shares of the company’s stock worth $429,000 after acquiring an additional 19,155 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of FTAI Infrastructure by 38.0% during the 1st quarter. Lazard Asset Management LLC now owns 467,149 shares of the company’s stock worth $2,308,000 after acquiring an additional 128,598 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID grew its holdings in shares of FTAI Infrastructure by 288.6% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 128,589 shares of the company’s stock worth $635,000 after acquiring an additional 95,498 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

About FTAI Infrastructure

FTAI Infrastructure Ltd (NASDAQ: FIP) is a closed-end investment company that acquires and manages infrastructure assets offering stable, long-term cash flows. The company targets core and core-plus infrastructure sectors with contracted or regulated revenue streams, aiming to deliver attractive risk-adjusted returns for its shareholders. FTAI Infrastructure’s portfolio is diversified across multiple sub-sectors, geographies and counterparties to manage risk and capture growth opportunities in global infrastructure markets.

The company focuses on three primary investment categories: communications infrastructure, transport and logistics infrastructure, and utility infrastructure.