Gulf Island Fabrication, Inc. (NASDAQ:GIFI) Short Interest Up 27.8% in March

Gulf Island Fabrication, Inc. (NASDAQ:GIFI - Get Free Report) saw a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 73,600 shares, a growth of 27.8% from the February 28th total of 57,600 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily volume of 48,900 shares, the short-interest ratio is currently 1.5 days.

Hedge Funds Weigh In On Gulf Island Fabrication

Several hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new position in Gulf Island Fabrication during the 4th quarter valued at about $83,000. Perritt Capital Management Inc raised its stake in shares of Gulf Island Fabrication by 25.0% during the fourth quarter. Perritt Capital Management Inc now owns 25,000 shares of the oil and gas company's stock worth $170,000 after buying an additional 5,000 shares during the last quarter. Empowered Funds LLC acquired a new position in Gulf Island Fabrication in the fourth quarter valued at approximately $180,000. Marshall Wace LLP bought a new position in Gulf Island Fabrication in the fourth quarter valued at approximately $219,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Gulf Island Fabrication by 9.8% during 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 acquiring an additional 3,683 shares during the period. Institutional investors own 46.40% of the company's stock.

Analyst Ratings Changes

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

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Gulf Island Fabrication Price Performance

Shares of GIFI stock traded down $0.43 during trading hours on Friday, reaching $6.03. 65,078 shares of the company were exchanged, compared to its average volume of 50,718. Gulf Island Fabrication has a fifty-two week low of $5.12 and a fifty-two week high of $7.59. 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 stock's fifty day moving average is $6.64 and its two-hundred day moving average is $6.51. The company has a market cap of $98.57 million, a price-to-earnings ratio of 5.74 and a beta of 0.24.

Gulf Island Fabrication Company Profile

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.