Gulf Island Fabrication (NASDAQ:GIFI) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Gulf Island Fabrication, Inc. (NASDAQ:GIFI)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.12 and traded as high as $6.89. Gulf Island Fabrication shares last traded at $6.81, with a volume of 15,399 shares.

Analyst Upgrades and Downgrades

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

Gulf Island Fabrication Trading Up 0.7 %

The company has a current ratio of 4.61, a quick ratio of 4.50 and a debt-to-equity ratio of 0.21. The company has a market cap of $111.36 million, a PE ratio of 6.49 and a beta of 0.54. The company has a fifty day simple moving average of $6.62 and a two-hundred day simple moving average of $6.12.

Gulf Island Fabrication (NASDAQ:GIFI) last issued its earnings results on Tuesday, November 5th. The oil and gas company reported $0.14 earnings per share 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

Several institutional investors have recently modified their holdings of the company. Factorial Partners LLC raised its stake in Gulf Island Fabrication by 410.9% in the second quarter. Factorial Partners LLC now owns 199,236 shares of the oil and gas company’s stock valued at $1,209,000 after buying an additional 160,236 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Gulf Island Fabrication during the 2nd quarter worth about $191,000. Acadian Asset Management LLC lifted its stake in Gulf Island Fabrication by 480.8% during the second quarter. Acadian Asset Management LLC now owns 114,177 shares of the oil and gas company’s stock worth $691,000 after purchasing an additional 94,519 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Gulf Island Fabrication by 9.8% during the third 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. Finally, Ritholtz Wealth Management acquired a new position in Gulf Island Fabrication in the second quarter valued at approximately $161,000. 46.40% of the stock is owned by hedge funds and other institutional investors.

About Gulf Island Fabrication

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.