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

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 $6.68 and traded as high as $7.01. Gulf Island Fabrication shares last traded at $6.86, with a volume of 17,486 shares changing hands.

Analysts Set New Price Targets

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

Gulf Island Fabrication Trading Down 1.3%

The company has a market capitalization of $113.08 million, a P/E ratio of 9.42 and a beta of 0.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.76 and a current ratio of 4.90. The stock has a fifty day moving average of $6.65 and a 200 day moving average of $6.68.

Gulf Island Fabrication (NASDAQ:GIFI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.08 by $0.15. The firm had revenue of $40.27 million for the quarter, compared to the consensus estimate of $36.50 million. Gulf Island Fabrication had a return on equity of 13.50% and a net margin of 7.87%.

Hedge Funds Weigh In On Gulf Island Fabrication

A number of hedge funds have recently modified their holdings of GIFI. Jane Street Group LLC purchased a new position in shares of Gulf Island Fabrication during the 4th quarter valued at $83,000. Goldman Sachs Group Inc. raised its holdings in Gulf Island Fabrication by 13.5% during the first quarter. Goldman Sachs Group Inc. now owns 14,844 shares of the oil and gas company's stock valued at $96,000 after acquiring an additional 1,766 shares during the period. Shufro Rose & Co. LLC purchased a new position in shares of Gulf Island Fabrication in the first quarter valued at about $115,000. Perritt Capital Management Inc lifted its position in shares of Gulf Island Fabrication by 25.0% in the fourth quarter. Perritt Capital Management Inc now owns 25,000 shares of the oil and gas company's stock valued at $170,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Gulf Island Fabrication by 6.2% in the first 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 during the period. 46.40% of the stock is currently owned by institutional investors.

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.