Gulf Island Fabrication (NASDAQ:GIFI) Downgraded by StockNews.com to Hold

Gulf Island Fabrication (NASDAQ:GIFI) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Gulf Island Fabrication Stock Performance

NASDAQ GIFI traded up $0.15 during trading hours on Wednesday, reaching $6.68. The company’s stock had a trading volume of 27,317 shares, compared to its average volume of 58,361. 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 business has a 50-day simple moving average of $6.78 and a 200 day simple moving average of $6.42. Gulf Island Fabrication has a 52 week low of $5.12 and a 52 week high of $7.93. The stock has a market cap of $109.19 million, a PE ratio of 6.36 and a beta of 0.51.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GIFI. Factorial Partners LLC boosted its stake in shares of Gulf Island Fabrication by 10.3% during the 3rd quarter. Factorial Partners LLC now owns 219,673 shares of the oil and gas company’s stock valued at $1,239,000 after buying an additional 20,437 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake 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 valued at $234,000 after acquiring an additional 3,683 shares during the last quarter. De Lisle Partners LLP grew its position in Gulf Island Fabrication by 14.2% in 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 acquiring an additional 30,000 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in shares of Gulf Island Fabrication during the 3rd quarter worth $260,000. Finally, Empowered Funds LLC acquired a new position in shares of Gulf Island Fabrication during the 4th quarter worth $180,000. Institutional investors and hedge funds own 46.40% of the company’s stock.

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.