Gulf Island Fabrication (NASDAQ:GIFI) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Gulf Island Fabrication, Inc. (NASDAQ:GIFI - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.09 and traded as high as $6.59. Gulf Island Fabrication shares last traded at $6.02, with a volume of 103,275 shares traded.

Analyst Ratings Changes

Separately, StockNews.com upgraded Gulf Island Fabrication from a "hold" rating to a "buy" rating in a research report on Thursday.

Gulf Island Fabrication Stock Up 15.3 %

The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.80 and a current ratio of 3.89. The stock's fifty day simple moving average is $5.55 and its two-hundred day simple moving average is $6.10. The stock has a market capitalization of $114.62 million, a P/E ratio of 6.61 and a beta of 0.48.

Gulf Island Fabrication (NASDAQ:GIFI - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.01. The business had revenue of $37.64 million during the quarter. Gulf Island Fabrication had a negative return on equity of 22.34% and a negative net margin of 13.47%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Gulf Island Fabrication by 4.3% during the first quarter. Vanguard Group Inc. now owns 603,774 shares of the oil and gas company's stock worth $4,438,000 after buying an additional 24,699 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in Gulf Island Fabrication in the first quarter worth approximately $198,000. Robotti Robert bought a new stake in shares of Gulf Island Fabrication in the 1st quarter valued at $74,000. Ritholtz Wealth Management bought a new stake in Gulf Island Fabrication in the second quarter valued at $161,000. Finally, Acadian Asset Management LLC raised its stake in Gulf Island Fabrication by 480.8% during the 2nd quarter. Acadian Asset Management LLC now owns 114,177 shares of the oil and gas company's stock worth $691,000 after buying an additional 94,519 shares during the period. Institutional investors and hedge funds own 46.40% of the company's stock.

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.