Gulf Island Fabrication (NASDAQ:GIFI) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Gulf Island Fabrication, Inc. (NASDAQ:GIFI) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.10 and traded as high as $6.99. Gulf Island Fabrication shares last traded at $6.99, with a volume of 31,743 shares changing hands.

Analysts Set New Price Targets

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

Gulf Island Fabrication Stock Performance

The business’s fifty day moving average is $6.52 and its 200-day moving average is $6.11. The company has a quick ratio of 4.50, a current ratio of 4.61 and a debt-to-equity ratio of 0.21. The company has a market cap of $113.82 million, a PE ratio of 6.63 and a beta of 0.54.

Gulf Island Fabrication (NASDAQ:GIFI) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. Gulf Island Fabrication had a return on equity of 20.64% and a net margin of 10.54%. The business had revenue of $37.64 million for the quarter.

Hedge Funds Weigh In On Gulf Island Fabrication

Institutional investors have recently bought and sold shares of the business. Ritholtz Wealth Management bought a new stake in shares of Gulf Island Fabrication in the 2nd quarter worth about $161,000. Acadian Asset Management LLC boosted its position 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 valued at $691,000 after purchasing an additional 94,519 shares in the last quarter. Factorial Partners LLC grew its position in shares of Gulf Island Fabrication by 410.9% in the 2nd quarter. Factorial Partners LLC now owns 199,236 shares of the oil and gas company’s stock worth $1,209,000 after buying an additional 160,236 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Gulf Island Fabrication by 4.2% during 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 buying an additional 22,042 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Gulf Island Fabrication by 1.8% in the 2nd quarter. Renaissance Technologies LLC now owns 578,424 shares of the oil and gas company’s stock worth $3,511,000 after purchasing an additional 10,170 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.