Gulf Island Fabrication (NASDAQ:GIFI) Shares Pass Above 200 Day Moving Average - What's Next?

Shares of Gulf Island Fabrication, Inc. (NASDAQ:GIFI - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.17 and traded as high as $7.16. Gulf Island Fabrication shares last traded at $7.16, with a volume of 34,432 shares traded.

Analyst Upgrades and Downgrades

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

Gulf Island Fabrication Price Performance

The business has a 50-day moving average of $6.88 and a two-hundred day moving average of $6.17. 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 $117.09 million, a P/E ratio of 6.82 and a beta of 0.55.

Gulf Island Fabrication (NASDAQ:GIFI - Get Free Report) last released its quarterly earnings results 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. The company 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%.

Hedge Funds Weigh In On Gulf Island Fabrication

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its stake in shares of Gulf Island Fabrication by 1.8% in the second quarter. Renaissance Technologies LLC now owns 578,424 shares of the oil and gas company's stock worth $3,511,000 after purchasing an additional 10,170 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Gulf Island Fabrication by 4.2% in the 2nd 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. Glenorchy Capital Ltd increased its stake in shares of Gulf Island Fabrication by 24.5% in the third quarter. Glenorchy Capital Ltd now owns 298,005 shares of the oil and gas company's stock valued at $1,681,000 after buying an additional 58,622 shares during the period. De Lisle Partners LLP raised its position in shares of Gulf Island Fabrication by 14.2% during the third quarter. De Lisle Partners LLP now owns 241,270 shares of the oil and gas company's stock worth $1,344,000 after acquiring an additional 30,000 shares during the last quarter. Finally, Factorial Partners LLC lifted its stake in shares of Gulf Island Fabrication by 10.3% in the third quarter. Factorial Partners LLC now owns 219,673 shares of the oil and gas company's stock worth $1,239,000 after acquiring an additional 20,437 shares during the period. 46.40% of the stock is currently owned by institutional investors and hedge funds.

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.