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

Gulf Island Fabrication, Inc. (NASDAQ:GIFI) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.46 and traded as high as $11.88. Gulf Island Fabrication shares last traded at $11.86, with a volume of 49,507 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Gulf Island Fabrication in a report on Tuesday. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Gulf Island Fabrication has a consensus rating of “Hold”.

Gulf Island Fabrication Price Performance

The company has a market cap of $189.75 million, a P/E ratio of 20.10 and a beta of 0.35. The company’s 50-day moving average price is $8.67 and its two-hundred day moving average price is $7.46. The company has a current ratio of 4.63, a quick ratio of 4.51 and a debt-to-equity ratio of 0.19.

Gulf Island Fabrication (NASDAQ:GIFI) last posted its quarterly earnings results on Wednesday, November 12th. The oil and gas company reported $0.10 EPS for the quarter. The business had revenue of $51.54 million during the quarter, compared to the consensus estimate of $34.00 million. Gulf Island Fabrication had a return on equity of 12.59% and a net margin of 6.45%.

Institutional Trading of Gulf Island Fabrication

A number of institutional investors and hedge funds have recently made changes to their positions in GIFI. Truffle Hound Capital LLC bought a new stake in Gulf Island Fabrication in the second quarter valued at $1,164,000. Janney Montgomery Scott LLC bought a new stake in Gulf Island Fabrication in the 2nd quarter valued at about $373,000. First Wilshire Securities Management Inc. boosted its stake in Gulf Island Fabrication by 4.1% during the 2nd quarter. First Wilshire Securities Management Inc. now owns 1,019,169 shares of the oil and gas company’s stock valued at $6,777,000 after purchasing an additional 40,556 shares during the period. Bailard Inc. bought a new position in Gulf Island Fabrication in the 2nd quarter worth about $237,000. Finally, Jane Street Group LLC increased its stake in shares of Gulf Island Fabrication by 208.1% in the first quarter. Jane Street Group LLC now owns 37,488 shares of the oil and gas company’s stock valued at $242,000 after purchasing an additional 25,321 shares during the period. 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.