Gulf Island Fabrication (NASDAQ:GIFI) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Gulf Island Fabrication, Inc. (NASDAQ:GIFI)’s share price crossed 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 traded.

Analyst Ratings Changes

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

Gulf Island Fabrication Trading Up 0.6 %

The company has a market capitalization of $116.11 million, a price-to-earnings ratio of 6.76 and a beta of 0.54. 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’s 50 day moving average price is $6.28 and its two-hundred day moving average price is $6.11.

Gulf Island Fabrication (NASDAQ:GIFI) last issued its earnings results on Tuesday, November 5th. The oil and gas company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $37.64 million for the quarter. Gulf Island Fabrication had a net margin of 10.54% and a return on equity of 20.64%.

Hedge Funds Weigh In On Gulf Island Fabrication

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Factorial Partners LLC grew its holdings in shares of Gulf Island Fabrication by 410.9% during the second quarter. Factorial Partners LLC now owns 199,236 shares of the oil and gas company’s stock worth $1,209,000 after purchasing an additional 160,236 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Gulf Island Fabrication in the second quarter worth $191,000. Acadian Asset Management LLC lifted its holdings in Gulf Island Fabrication by 480.8% during the 2nd quarter. Acadian Asset Management LLC now owns 114,177 shares of the oil and gas company’s stock worth $691,000 after buying an additional 94,519 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Gulf Island Fabrication by 9.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,407 shares of the oil and gas company’s stock worth $234,000 after buying an additional 3,683 shares during the period. Finally, Ritholtz Wealth Management acquired a new stake in shares of Gulf Island Fabrication in the second quarter valued at about $161,000. 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.