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

Gulf Island Fabrication, Inc. (NASDAQ:GIFI) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.20 and traded as high as $7.10. Gulf Island Fabrication shares last traded at $7.05, with a volume of 56,633 shares changing hands.

Analysts Set New Price Targets

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

Gulf Island Fabrication Trading Down 0.3 %

The stock has a 50-day moving average of $7.00 and a 200 day moving average of $6.21. The company has a quick ratio of 4.50, a current ratio of 4.61 and a debt-to-equity ratio of 0.21. The stock has a market cap of $114.94 million, a PE ratio of 6.70 and a beta of 0.55.

Gulf Island Fabrication (NASDAQ:GIFI) last released its quarterly earnings data 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. The business 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%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC purchased a new stake in shares of Gulf Island Fabrication in the 2nd quarter valued at approximately $73,000. Squarepoint Ops LLC acquired a new position in Gulf Island Fabrication during the second quarter worth $178,000. Marshall Wace LLP acquired a new stake in shares of Gulf Island Fabrication in the second quarter valued at $191,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Gulf Island Fabrication by 9.8% in the 3rd 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 buying an additional 3,683 shares during the period. Finally, Heron Bay Capital Management acquired a new position in Gulf Island Fabrication during the 2nd quarter worth about $234,000. 46.40% of the stock is 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.