Gulf Island Fabrication, Inc. (NASDAQ:GIFI – Get Free Report) was the recipient of a significant growth in short interest in July. As of July 31st, there was short interest totalling 96,200 shares, a growth of 17.0% from the July 15th total of 82,200 shares. Based on an average trading volume of 54,400 shares, the days-to-cover ratio is currently 1.8 days. Approximately 0.7% of the company’s stock are short sold.
Analyst Upgrades and Downgrades
Separately, StockNews.com lowered Gulf Island Fabrication from a “buy” rating to a “hold” rating in a report on Thursday, May 9th.
Read Our Latest Stock Report on GIFI
Gulf Island Fabrication Stock Down 1.7 %
Gulf Island Fabrication (NASDAQ:GIFI – Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.02). Gulf Island Fabrication had a negative return on equity of 22.11% and a negative net margin of 14.27%. The business had revenue of $41.26 million during the quarter.
Institutional Trading of Gulf Island Fabrication
Institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC acquired a new stake in Gulf Island Fabrication during the 2nd quarter worth about $73,000. Robotti Robert acquired a new stake in shares of Gulf Island Fabrication during the first quarter worth about $74,000. Ritholtz Wealth Management purchased a new stake in Gulf Island Fabrication in the second quarter valued at approximately $161,000. Squarepoint Ops LLC purchased a new stake in Gulf Island Fabrication in the second quarter valued at approximately $178,000. Finally, Marshall Wace LLP acquired a new position in Gulf Island Fabrication in the 2nd quarter worth approximately $191,000. 46.40% of the stock is currently owned by institutional investors and hedge funds.
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.
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