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

Gulf Island Fabrication, Inc. (NASDAQ:GIFI)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-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 changing hands.

Wall Street Analyst Weigh In

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

Gulf Island Fabrication Trading Up 0.3 %

The company has a debt-to-equity ratio of 0.21, a quick ratio of 4.50 and a current ratio of 4.61. The stock has a market capitalization of $118.05 million, a PE ratio of 6.88 and a beta of 0.55. The company has a 50 day moving average of $7.02 and a two-hundred day moving average of $6.24.

Gulf Island Fabrication (NASDAQ:GIFI) last posted its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $37.64 million during the quarter. Gulf Island Fabrication had a net margin of 10.54% and a return on equity of 20.64%.

Hedge Funds Weigh In On Gulf Island Fabrication

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in shares of Gulf Island Fabrication by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 544,581 shares of the oil and gas company’s stock valued at $3,306,000 after buying an additional 22,042 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of 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 valued at $3,511,000 after purchasing an additional 10,170 shares during the period. Marshall Wace LLP purchased a new position in shares of Gulf Island Fabrication in the second quarter valued at $191,000. Cubist Systematic Strategies LLC acquired a new stake in Gulf Island Fabrication during the 2nd quarter valued at $73,000. Finally, Squarepoint Ops LLC purchased a new stake in Gulf Island Fabrication during the 2nd quarter worth $178,000. 46.40% of the stock is currently owned by hedge funds and other institutional investors.

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.