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

Gulf Island Fabrication, Inc. (NASDAQ:GIFI - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.11 and traded as high as $7.11. Gulf Island Fabrication shares last traded at $7.10, with a volume of 55,177 shares trading hands.

Analysts Set New Price Targets

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

Gulf Island Fabrication Price Performance

The firm's 50 day simple moving average is $6.31 and its two-hundred day simple moving average is $6.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.61 and a quick ratio of 4.50. The firm has a market capitalization of $115.45 million, a P/E ratio of 6.72 and a beta of 0.54.

Gulf Island Fabrication (NASDAQ:GIFI - Get Free Report) last released its earnings results 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. Gulf Island Fabrication had a return on equity of 20.64% and a net margin of 10.54%. The company had revenue of $37.64 million during the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Factorial Partners LLC grew its holdings in 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 acquiring an additional 160,236 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Gulf Island Fabrication in the second quarter worth about $191,000. Acadian Asset Management LLC lifted its holdings 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 during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Gulf Island Fabrication by 9.8% in 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 buying an additional 3,683 shares during the last quarter. Finally, Ritholtz Wealth Management purchased a new position in shares of Gulf Island Fabrication during the second quarter valued at approximately $161,000. Institutional investors 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.