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

Gulf Island Fabrication, Inc. (NASDAQ:GIFI) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.11 and traded as high as $7.11. Gulf Island Fabrication shares last traded at $7.10, with a volume of 55,177 shares changing hands.

Wall Street Analysts Forecast Growth

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

Gulf Island Fabrication Price Performance

The company has a current ratio of 4.61, a quick ratio of 4.50 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $115.45 million, a P/E ratio of 6.72 and a beta of 0.54. The company has a 50 day moving average of $6.31 and a 200-day moving average of $6.11.

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, beating the consensus estimate of $0.13 by $0.01. Gulf Island Fabrication had a net margin of 10.54% and a return on equity of 20.64%. The business had revenue of $37.64 million for the quarter.

Hedge Funds Weigh In On Gulf Island Fabrication

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Gulf Island Fabrication by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 603,774 shares of the oil and gas company’s stock worth $4,438,000 after purchasing an additional 24,699 shares in the last quarter. Renaissance Technologies LLC lifted its position in Gulf Island Fabrication by 1.8% during the second 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 during the period. Dimensional Fund Advisors LP increased its holdings in Gulf Island Fabrication by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 544,581 shares of the oil and gas company’s stock valued at $3,306,000 after buying an additional 22,042 shares during the period. 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 buying an additional 58,622 shares in the last quarter. Finally, De Lisle Partners LLP lifted its stake in Gulf Island Fabrication by 14.2% during the third quarter. De Lisle Partners LLP now owns 241,270 shares of the oil and gas company’s stock worth $1,344,000 after purchasing an additional 30,000 shares during 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.