Gulf Island Fabrication, Inc. (NASDAQ:GIFI) Sees Large Drop in Short Interest

Gulf Island Fabrication, Inc. (NASDAQ:GIFI - Get Free Report) was the target of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 88,800 shares, a decline of 18.5% from the October 15th total of 109,000 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average daily volume of 35,800 shares, the short-interest ratio is currently 2.5 days.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GIFI. Factorial Partners LLC raised its stake in Gulf Island Fabrication by 410.9% during 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 period. Marshall Wace LLP acquired a new stake in Gulf Island Fabrication during the 2nd quarter worth $191,000. 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. Ritholtz Wealth Management acquired a new stake in Gulf Island Fabrication during the 2nd quarter worth $161,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in Gulf Island Fabrication during the 1st quarter worth $198,000. Institutional investors and hedge funds own 46.40% of the company's stock.

Gulf Island Fabrication Price Performance

NASDAQ GIFI traded down $0.29 during trading on Friday, reaching $6.80. 27,634 shares of the company traded hands, compared to its average volume of 48,487. The company has a debt-to-equity ratio of 0.21, a quick ratio of 4.50 and a current ratio of 4.61. The stock's 50 day moving average price is $5.70 and its two-hundred day moving average price is $6.09. The company has a market cap of $111.18 million, a price-to-earnings ratio of 6.48 and a beta of 0.48. Gulf Island Fabrication has a 1-year low of $4.00 and a 1-year high of $7.93.

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 EPS for the quarter, topping 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 business had revenue of $37.64 million for the quarter.

Wall Street Analysts Forecast Growth

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

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.