Gulf Island Fabrication (NASDAQ:GIFI) Share Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Gulf Island Fabrication's stock price recently passed above its 200-day moving average, trading as high as $6.99 before closing at $6.93.
• Wall Street Zen upgraded Gulf Island Fabrication from a "hold" to a "buy" rating, indicating positive sentiment towards the stock.
• The company reported $0.07 EPS for the last quarter, missing estimates but exceeding revenue expectations with $37.54 million, compared to the $35.50 million forecast.

Shares of Gulf Island Fabrication, Inc. (NASDAQ:GIFI - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.63 and traded as high as $6.99. Gulf Island Fabrication shares last traded at $6.93, with a volume of 27,417 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Gulf Island Fabrication from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th.

Gulf Island Fabrication Price Performance

The business has a 50 day moving average price of $6.86 and a two-hundred day moving average price of $6.63. The stock has a market cap of $111.41 million, a PE ratio of 11.78 and a beta of 0.28. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.51 and a current ratio of 4.63.

Gulf Island Fabrication (NASDAQ:GIFI - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $37.54 million during the quarter, compared to analysts' expectations of $35.50 million.

Hedge Funds Weigh In On Gulf Island Fabrication

Institutional investors have recently bought and sold shares of the company. Ritholtz Wealth Management lifted its stake in Gulf Island Fabrication by 118.1% in the first quarter. Ritholtz Wealth Management now owns 38,139 shares of the oil and gas company's stock valued at $246,000 after purchasing an additional 20,650 shares during the last quarter. Shufro Rose & Co. LLC purchased a new position in Gulf Island Fabrication in the first quarter valued at approximately $115,000. Jane Street Group LLC purchased a new position in Gulf Island Fabrication in the fourth quarter valued at approximately $83,000. Marshall Wace LLP purchased a new position in Gulf Island Fabrication in the fourth quarter valued at approximately $219,000. Finally, Dimensional Fund Advisors LP lifted its stake in Gulf Island Fabrication by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 554,697 shares of the oil and gas company's stock valued at $3,777,000 after purchasing an additional 18,336 shares during the last quarter. 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.