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

Gulf Island Fabrication, Inc. (NASDAQ:GIFI)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.17 and traded as high as $7.16. Gulf Island Fabrication shares last traded at $7.16, with a volume of 34,432 shares changing hands.

Wall Street Analysts Forecast Growth

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

Gulf Island Fabrication Stock Down 0.7 %

The company has a debt-to-equity ratio of 0.21, a current ratio of 4.61 and a quick ratio of 4.50. The firm has a market capitalization of $117.09 million, a P/E ratio of 6.82 and a beta of 0.55. The business has a 50 day moving average price of $6.84 and a 200 day moving average price of $6.17.

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

Institutional Investors Weigh In On Gulf Island Fabrication

Several large investors have recently made changes to their positions in GIFI. Acadian Asset Management LLC boosted its position in Gulf Island Fabrication by 480.8% in the second quarter. Acadian Asset Management LLC now owns 114,177 shares of the oil and gas company’s stock valued at $691,000 after buying an additional 94,519 shares in the last quarter. Factorial Partners LLC raised its stake in shares of 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 acquiring an additional 160,236 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Gulf Island Fabrication by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 544,581 shares of the oil and gas company’s stock worth $3,306,000 after acquiring an additional 22,042 shares in the last quarter. Renaissance Technologies LLC grew its position in Gulf Island Fabrication by 1.8% during the 2nd quarter. Renaissance Technologies LLC now owns 578,424 shares of the oil and gas company’s stock worth $3,511,000 after acquiring an additional 10,170 shares during the last quarter. Finally, Heron Bay Capital Management acquired a new stake in Gulf Island Fabrication during the 2nd quarter valued at $234,000. Institutional investors own 46.40% of the company’s stock.

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.