Gulf Island Fabrication (NASDAQ:GIFI) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Gulf Island Fabrication, Inc. (NASDAQ:GIFI)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.63 and traded as high as $6.99. Gulf Island Fabrication shares last traded at $6.93, with a volume of 27,417 shares.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Gulf Island Fabrication from a “hold” rating to a “buy” rating in a report on Thursday, May 8th.

Gulf Island Fabrication Stock Up 4.2%

The firm has a market cap of $111.09 million, a price-to-earnings ratio of 11.75 and a beta of 0.24. The company has a current ratio of 4.63, a quick ratio of 4.51 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average of $6.86 and a 200-day moving average of $6.63.

Gulf Island Fabrication (NASDAQ:GIFI) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). Gulf Island Fabrication had a net margin of 6.45% and a return on equity of 12.59%. The company had revenue of $37.54 million for the quarter, compared to analyst estimates of $35.50 million.

Institutional Investors Weigh In On Gulf Island Fabrication

Hedge funds have recently made changes to their positions in the business. Ritholtz Wealth Management raised its holdings in shares of Gulf Island Fabrication by 118.1% during the first quarter. Ritholtz Wealth Management now owns 38,139 shares of the oil and gas company’s stock valued at $246,000 after buying an additional 20,650 shares during the last quarter. Shufro Rose & Co. LLC bought a new stake in Gulf Island Fabrication during the 1st quarter valued at $115,000. Jane Street Group LLC bought a new stake in Gulf Island Fabrication during the 4th quarter valued at $83,000. Marshall Wace LLP bought a new stake in Gulf Island Fabrication during the 4th quarter valued at $219,000. Finally, Dimensional Fund Advisors LP raised its stake in Gulf Island Fabrication by 3.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 554,697 shares of the oil and gas company’s stock valued at $3,777,000 after acquiring an additional 18,336 shares in the last quarter. 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.