Gulf Island Fabrication (NASDAQ:GIFI) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Gulf Island Fabrication, Inc. (NASDAQ:GIFIGet Free Report) 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.

Analysts Set New Price Targets

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

Read Our Latest Research Report on GIFI

Gulf Island Fabrication Price Performance

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 market cap of $115.45 million, a price-to-earnings ratio of 6.72 and a beta of 0.54. The company has a 50 day simple moving average of $6.31 and a 200-day simple moving average of $6.11.

Gulf Island Fabrication (NASDAQ:GIFIGet Free Report) last released its 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. The firm had revenue of $37.64 million for the quarter. Gulf Island Fabrication had a return on equity of 20.64% and a net margin of 10.54%.

Institutional Investors Weigh In On Gulf Island Fabrication

Several institutional investors and hedge funds have recently added to or reduced their stakes in GIFI. Vanguard Group Inc. increased its position in shares of Gulf Island Fabrication by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 603,774 shares of the oil and gas company’s stock worth $4,438,000 after purchasing an additional 24,699 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Gulf Island Fabrication by 1.8% during the second quarter. Renaissance Technologies LLC now owns 578,424 shares of the oil and gas company’s stock worth $3,511,000 after buying an additional 10,170 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Gulf Island Fabrication by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 544,581 shares of the oil and gas company’s stock worth $3,306,000 after acquiring an additional 22,042 shares in the last quarter. Glenorchy Capital Ltd increased its stake in shares of Gulf Island Fabrication by 24.5% during the 3rd quarter. Glenorchy Capital Ltd now owns 298,005 shares of the oil and gas company’s stock worth $1,681,000 after purchasing an additional 58,622 shares during the last quarter. Finally, De Lisle Partners LLP raised its holdings in shares of Gulf Island Fabrication by 14.2% in the 3rd quarter. De Lisle Partners LLP now owns 241,270 shares of the oil and gas company’s stock valued at $1,344,000 after purchasing an additional 30,000 shares during the period. 46.40% of the stock is owned by institutional investors.

About Gulf Island Fabrication

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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.

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