Short Interest in Gulf Island Fabrication, Inc. (NASDAQ:GIFI) Rises By 132.4%

Gulf Island Fabrication, Inc. (NASDAQ:GIFI) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 160,600 shares, an increase of 132.4% from the February 29th total of 69,100 shares. Based on an average trading volume of 64,300 shares, the short-interest ratio is presently 2.5 days. Approximately 1.1% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several research firms have commented on GIFI. StockNews.com assumed coverage on Gulf Island Fabrication in a research note on Friday, March 15th. They set a “hold” rating for the company. Johnson Rice upgraded Gulf Island Fabrication from a “hold” rating to an “accumulate” rating in a research report on Friday, March 8th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. lifted its stake in shares of Gulf Island Fabrication by 69.8% during the fourth quarter. Advisor Group Holdings Inc. now owns 8,025 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 3,300 shares in the last quarter. Prelude Capital Management LLC purchased a new stake in shares of Gulf Island Fabrication during the second quarter worth about $43,000. Perritt Capital Management Inc. increased its position in shares of Gulf Island Fabrication by 122.2% during the second quarter. Perritt Capital Management Inc. now owns 20,000 shares of the oil and gas company’s stock worth $65,000 after acquiring an additional 11,000 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of Gulf Island Fabrication during the first quarter worth about $69,000. Finally, Susquehanna International Group LLP purchased a new stake in shares of Gulf Island Fabrication during the first quarter worth about $74,000. Institutional investors and hedge funds own 46.40% of the company’s stock.

Gulf Island Fabrication Price Performance

Shares of GIFI traded down $0.10 on Thursday, reaching $7.35. The stock had a trading volume of 68,980 shares, compared to its average volume of 69,595. The firm has a market capitalization of $119.07 million, a PE ratio of -4.88 and a beta of 0.40. The company has a quick ratio of 3.34, a current ratio of 3.40 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average of $5.32 and a 200 day moving average of $4.45. Gulf Island Fabrication has a twelve month low of $2.95 and a twelve month high of $7.80.

Gulf Island Fabrication (NASDAQ:GIFI) last released its quarterly earnings results on Thursday, March 7th. The oil and gas company reported $0.43 earnings per share for the quarter. The business had revenue of $44.55 million for the quarter. Gulf Island Fabrication had a negative return on equity of 27.29% and a negative net margin of 16.15%.

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.