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

Shares of Gulf Island Fabrication, Inc. (NASDAQ:GIFI) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.77 and traded as high as $7.59. Gulf Island Fabrication shares last traded at $7.37, with a volume of 36,222 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Gulf Island Fabrication in a research report on Saturday, September 27th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Gulf Island Fabrication presently has a consensus rating of “Hold”.

Gulf Island Fabrication Stock Performance

The firm has a market capitalization of $118.14 million, a PE ratio of 12.49 and a beta of 0.33. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.63 and a quick ratio of 4.51. The firm has a fifty day moving average price of $7.05 and a 200 day moving average price of $6.77.

Gulf Island Fabrication (NASDAQ:GIFI) last announced its earnings results on Wednesday, August 6th. The oil and gas company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.05). Gulf Island Fabrication had a net margin of 6.45% and a return on equity of 12.59%. The company had revenue of $37.54 million for the quarter, compared to analysts’ expectations of $35.50 million.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. XTX Topco Ltd purchased a new stake in Gulf Island Fabrication in the 2nd quarter worth about $72,000. Goldman Sachs Group Inc. lifted its stake in Gulf Island Fabrication by 13.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,844 shares of the oil and gas company’s stock worth $96,000 after acquiring an additional 1,766 shares in the last quarter. Shufro Rose & Co. LLC purchased a new stake in Gulf Island Fabrication in the 1st quarter worth about $115,000. Empowered Funds LLC lifted its stake in Gulf Island Fabrication by 6.2% in the 1st quarter. Empowered Funds LLC now owns 28,144 shares of the oil and gas company’s stock worth $182,000 after acquiring an additional 1,654 shares in the last quarter. Finally, Bailard Inc. purchased a new stake in Gulf Island Fabrication in the 2nd quarter worth about $237,000. 46.40% of the stock is owned by institutional investors and hedge funds.

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.