Short Interest in Gulf Island Fabrication, Inc. (NASDAQ:GIFI) Declines By 12.1%

Gulf Island Fabrication, Inc. (NASDAQ:GIFIGet Rating) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totalling 55,300 shares, a drop of 12.1% from the August 15th total of 62,900 shares. Based on an average trading volume of 44,200 shares, the days-to-cover ratio is currently 1.3 days. Approximately 0.4% of the company’s stock are sold short.

Hedge Funds Weigh In On Gulf Island Fabrication

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HM Payson & Co. acquired a new position in Gulf Island Fabrication during the first quarter valued at approximately $50,000. Marquette Asset Management LLC grew its holdings in Gulf Island Fabrication by 36.1% during the first quarter. Marquette Asset Management LLC now owns 63,151 shares of the oil and gas company’s stock valued at $248,000 after purchasing an additional 16,736 shares during the last quarter. Values First Advisors Inc. acquired a new stake in shares of Gulf Island Fabrication in the fourth quarter worth $78,000. Renaissance Technologies LLC grew its stake in shares of Gulf Island Fabrication by 3.0% in the first quarter. Renaissance Technologies LLC now owns 716,994 shares of the oil and gas company’s stock worth $2,811,000 after acquiring an additional 21,070 shares during the last quarter. Finally, Advisor Resource Council acquired a new stake in shares of Gulf Island Fabrication in the fourth quarter worth $230,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Gulf Island Fabrication Stock Up 0.7 %

Shares of GIFI stock opened at $4.25 on Friday. Gulf Island Fabrication has a 12 month low of $3.10 and a 12 month high of $4.62. The business’s 50 day moving average is $3.70 and its two-hundred day moving average is $3.65. The company has a market cap of $67.66 million, a PE ratio of -12.14 and a beta of 0.69.

Wall Street Analyst Weigh In

Separately, TheStreet raised shares of Gulf Island Fabrication from a “d+” rating to a “c-” rating in a research report on Tuesday, August 23rd.

Gulf Island Fabrication Company Profile

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Gulf Island Fabrication, Inc, together with its subsidiaries, operates as a fabricator of steel structures and modules in the United States. The company fabricates modules, skids, and piping systems for onshore refining, petrochemical, liquified natural gas (LNG), industrial, and offshore facilities; foundations, secondary steel components, and support structures for alternative energy developments and coastal mooring facilities; offshore production platforms and associated structures, including jacket foundations, piles, and topsides for fixed production and utility platforms, as well as hulls and topsides for floating production and utility platforms; and other complex steel structures and components.

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