Gulf Island Fabrication (NASDAQ:GIFI) Shares Cross Above 200 Day Moving Average – Should You Sell?

Gulf Island Fabrication, Inc. (NASDAQ:GIFI)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.17 and traded as high as $7.16. Gulf Island Fabrication shares last traded at $7.16, with a volume of 34,432 shares changing hands.

Wall Street Analyst Weigh In

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

Gulf Island Fabrication Stock Performance

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 company’s 50-day moving average is $6.84 and its two-hundred day moving average is $6.17. The stock has a market capitalization of $117.09 million, a P/E ratio of 6.82 and a beta of 0.55.

Gulf Island Fabrication (NASDAQ:GIFI) last released its quarterly 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. 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 Investors Weigh In On Gulf Island Fabrication

Several hedge funds have recently made changes to their positions in the company. Factorial Partners LLC increased its stake 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 valued at $1,209,000 after buying an additional 160,236 shares during the period. Marshall Wace LLP purchased a new position in shares of Gulf Island Fabrication during the 2nd quarter valued at $191,000. Acadian Asset Management LLC increased its stake in shares of Gulf Island Fabrication by 480.8% in the second quarter. Acadian Asset Management LLC now owns 114,177 shares of the oil and gas company’s stock worth $691,000 after acquiring an additional 94,519 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Gulf Island Fabrication by 9.8% during the third 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 in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Gulf Island Fabrication during the second quarter valued at $73,000. Hedge funds and other 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.