Gulf Island Fabrication (NASDAQ:GIFI) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of Gulf Island Fabrication, Inc. (NASDAQ:GIFI) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.27 and traded as high as $7.22. Gulf Island Fabrication shares last traded at $7.00, with a volume of 52,969 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Gulf Island Fabrication from a “buy” rating to a “hold” rating in a research note on Friday, November 15th.

Gulf Island Fabrication Trading Down 2.4 %

The firm has a market capitalization of $114.45 million, a P/E ratio of 6.67 and a beta of 0.55. The business’s 50-day moving average is $7.04 and its 200 day moving average is $6.27. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.61 and a quick ratio of 4.50.

Gulf Island Fabrication (NASDAQ:GIFI) last released its earnings results on Tuesday, November 5th. The oil and gas company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. Gulf Island Fabrication had a net margin of 10.54% and a return on equity of 20.64%. The firm had revenue of $37.64 million for the quarter.

Institutional Investors Weigh In On Gulf Island Fabrication

A number of hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new stake in Gulf Island Fabrication during the 2nd quarter worth approximately $191,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Gulf Island Fabrication by 9.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,407 shares of the oil and gas company’s stock worth $234,000 after purchasing an additional 3,683 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Gulf Island Fabrication in the 2nd quarter valued at $73,000. Glenorchy Capital Ltd increased its stake in shares of Gulf Island Fabrication by 24.5% in the 3rd quarter. Glenorchy Capital Ltd now owns 298,005 shares of the oil and gas company’s stock valued at $1,681,000 after acquiring an additional 58,622 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Gulf Island Fabrication in the 2nd quarter valued at $178,000. 46.40% of the stock is currently owned by institutional investors and hedge funds.

Gulf Island Fabrication Company Profile

Gulf Island Fabrication, Inc, together with its subsidiaries, operates as a fabricator of steel structures and modules in the United States. It operates through Services, Fabrication, and Shipyard divisions. The company provides maintenance, repair, construction, scaffolding, coatings, welding enclosures, and other specialty services on offshore platforms, inland structures, and industrial facilities; services required to connect production equipment and service modules, and equipment on offshore platforms; project management and commissioning services; hookup services; and civil construction and staffing services to the industrial and energy sectors, as well as undertakes municipal and drainage projects, including pump stations, levee reinforcement, bulkheads, and other public works.