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

Gulf Island Fabrication, Inc. (NASDAQ:GIFI) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.12 and traded as high as $6.89. Gulf Island Fabrication shares last traded at $6.81, with a volume of 15,399 shares traded.

Analysts Set New Price Targets

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

Gulf Island Fabrication Price Performance

The company has a market capitalization of $116.11 million, a PE 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 stock has a fifty day simple moving average of $6.68 and a 200-day simple moving average of $6.13.

Gulf Island Fabrication (NASDAQ:GIFI) last announced 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 company had revenue of $37.64 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new position in Gulf Island Fabrication in the second quarter valued at $73,000. Ritholtz Wealth Management acquired a new position in Gulf Island Fabrication in the 2nd quarter valued at about $161,000. Squarepoint Ops LLC purchased a new stake in Gulf Island Fabrication during the 2nd quarter valued at approximately $178,000. Marshall Wace LLP acquired a new stake in Gulf Island Fabrication during the 2nd quarter worth approximately $191,000. Finally, Heron Bay Capital Management purchased a new position in shares of Gulf Island Fabrication in the 2nd quarter valued at approximately $234,000. 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.