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

Gulf Island Fabrication logo with Oils/Energy background

Gulf Island Fabrication, Inc. (NASDAQ:GIFI - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.12 and traded as high as $6.89. Gulf Island Fabrication shares last traded at $6.81, with a volume of 15,399 shares changing hands.

Analyst Upgrades and Downgrades

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

Get Our Latest Stock Report on GIFI

Gulf Island Fabrication Price Performance

The stock has a market cap of $111.36 million, a PE ratio of 6.49 and a beta of 0.54. 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 business has a 50-day moving average price of $6.68 and a 200 day moving average price of $6.13.

Gulf Island Fabrication (NASDAQ:GIFI - Get Free Report) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm 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%.

Institutional Trading of Gulf Island Fabrication

Institutional investors and hedge funds have recently bought and sold shares of the company. Ritholtz Wealth Management purchased a new stake in shares of Gulf Island Fabrication in the second quarter worth $161,000. Acadian Asset Management LLC grew its stake in Gulf Island Fabrication by 480.8% in 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 in the last quarter. Factorial Partners LLC increased its holdings in shares of Gulf Island Fabrication by 410.9% in the 2nd quarter. Factorial Partners LLC now owns 199,236 shares of the oil and gas company's stock worth $1,209,000 after buying an additional 160,236 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Gulf Island Fabrication by 4.2% during 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 in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Gulf Island Fabrication by 1.8% during the 2nd quarter. Renaissance Technologies LLC now owns 578,424 shares of the oil and gas company's stock worth $3,511,000 after acquiring an additional 10,170 shares during the last quarter. 46.40% of the stock is currently owned by hedge funds and other institutional investors.

About Gulf Island Fabrication

(Get Free Report)

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.

Further Reading

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