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

FTAI Infrastructure Inc. (NASDAQ:FIP)’s share price passed above its fifty day moving average during trading on Thursday following a better than expected earnings announcement. The stock has a fifty 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 trading hands.

The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.72). The business had revenue of $218.97 million for the quarter, compared to analysts’ expectations of $195.03 million.

Analyst Ratings Changes

FIP has been the topic of several research analyst reports. JonesTrading reissued a “buy” rating and issued a $8.75 price objective on shares of FTAI Infrastructure in a research report on Monday, September 28th. Citizens Jmp began coverage on FTAI Infrastructure in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $10.00 price objective for the company. Jefferies Financial Group set a $10.00 target price on FTAI Infrastructure in a research report on Tuesday, September 29th. Wall Street Zen downgraded shares of FTAI Infrastructure from a “sell” rating to a “strong sell” rating in a report on Monday, July 20th. Finally, Citigroup reissued a “market outperform” rating on shares of FTAI Infrastructure in a report on Tuesday, September 29th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.95.

Institutional Investors Weigh In On FTAI Infrastructure

A number of hedge funds have recently modified their holdings of the stock. WINTON GROUP Ltd purchased a new position in FTAI Infrastructure in the second quarter valued at approximately $65,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in FTAI Infrastructure in the second quarter worth $75,000. Connective Capital Management LLC purchased a new position in shares of FTAI Infrastructure during the 2nd quarter valued at $167,000. 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 buying an additional 22,214 shares during the last quarter. Finally, Quantinno Capital Management LP grew 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 during the period. Institutional investors own 87.43% of the company’s stock.

FTAI Infrastructure Stock Performance

The company has a market cap of $347.45 million, a P/E ratio of -0.57 and a beta of 1.82. The firm has a 50 day moving average price of $2.89 and a two-hundred day moving average price of $4.46.

About FTAI Infrastructure

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.