Gulf Island Fabrication (NASDAQ:GIFI) Shares Cross Above 200-Day Moving Average – Here’s Why

Gulf Island Fabrication, Inc. (NASDAQ:GIFI)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.24 and traded as high as $7.22. Gulf Island Fabrication shares last traded at $7.22, with a volume of 23,914 shares trading hands.

Analyst Ratings Changes

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

Gulf Island Fabrication Stock Performance

The stock has a fifty day moving average price of $7.02 and a 200 day moving average price of $6.24. 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 firm has a market cap of $118.05 million, a price-to-earnings ratio of 6.88 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 earnings per share for the quarter, topping 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 business had revenue of $37.64 million for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC bought a new position in shares of Gulf Island Fabrication during the 2nd quarter worth about $73,000. Squarepoint Ops LLC purchased a new position in shares of Gulf Island Fabrication in the 2nd quarter valued at approximately $178,000. Marshall Wace LLP purchased a new stake in Gulf Island Fabrication in the second quarter worth $191,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Gulf Island Fabrication by 9.8% during the third 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, EP Wealth Advisors LLC bought a new stake in shares of Gulf Island Fabrication during the 3rd quarter valued at $260,000. 46.40% of the stock is owned by institutional investors.

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.