StockNews.com lowered shares of Gulf Island Fabrication (NASDAQ:GIFI - Free Report) from a buy rating to a hold rating in a research note published on Wednesday morning.
Gulf Island Fabrication Stock Performance
Shares of GIFI stock traded down $0.07 on Wednesday, hitting $6.65. The company had a trading volume of 27,979 shares, compared to its average volume of 56,882. Gulf Island Fabrication has a twelve month low of $5.12 and a twelve month high of $7.93. 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 firm has a market cap of $108.70 million, a P/E ratio of 6.33 and a beta of 0.51. The company has a 50-day moving average price of $6.76 and a 200-day moving average price of $6.44.
Institutional Investors Weigh In On Gulf Island Fabrication
Hedge funds and other institutional investors have recently made changes to their positions in the company. Factorial Partners LLC boosted its holdings in Gulf Island Fabrication by 10.3% during the third quarter. Factorial Partners LLC now owns 219,673 shares of the oil and gas company's stock worth $1,239,000 after buying an additional 20,437 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Gulf Island Fabrication by 9.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,407 shares of the oil and gas company's stock worth $234,000 after acquiring an additional 3,683 shares in the last quarter. De Lisle Partners LLP grew its holdings in Gulf Island Fabrication by 14.2% in the third 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. EP Wealth Advisors LLC acquired a new stake in Gulf Island Fabrication in the 3rd quarter valued at $260,000. Finally, Empowered Funds LLC acquired a new stake in shares of Gulf Island Fabrication in the fourth quarter valued at about $180,000. Institutional investors and hedge funds own 46.40% of the company's stock.
Gulf Island Fabrication Company Profile
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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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