Gulf Island Fabrication (NASDAQ:GIFI) Stock Passes Above 200-Day Moving Average – Here’s Why

Shares of Gulf Island Fabrication, Inc. (NASDAQ:GIFI) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.20 and traded as high as $7.10. Gulf Island Fabrication shares last traded at $7.05, with a volume of 56,633 shares trading hands.

Analysts Set New Price Targets

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

Gulf Island Fabrication Stock Down 0.3 %

The business’s 50 day moving average is $7.00 and its 200 day moving average is $6.21. 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 $114.94 million, a P/E ratio of 6.70 and a beta of 0.55.

Gulf Island Fabrication (NASDAQ:GIFI) last released its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $0.14 EPS for the quarter, topping 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 firm had revenue of $37.64 million during the quarter.

Institutional Investors Weigh In On Gulf Island Fabrication

Several institutional investors have recently bought and sold shares of the company. Marshall Wace LLP acquired a new position in shares of Gulf Island Fabrication during the second quarter worth $191,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Gulf Island Fabrication by 9.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,407 shares of the oil and gas company’s stock worth $234,000 after acquiring an additional 3,683 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Gulf Island Fabrication during the second quarter worth about $73,000. Heron Bay Capital Management acquired a new position in shares of Gulf Island Fabrication during the second quarter valued at about $234,000. Finally, Glenorchy Capital Ltd raised its position in shares of Gulf Island Fabrication by 24.5% in the 3rd quarter. Glenorchy Capital Ltd now owns 298,005 shares of the oil and gas company’s stock valued at $1,681,000 after purchasing an additional 58,622 shares during the last quarter. 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.