Gulf Island Fabrication (NASDAQ:GIFI) Stock Crosses Above 200 Day Moving Average - Here's What Happened

Shares of Gulf Island Fabrication, Inc. (NASDAQ:GIFI - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.67 and traded as high as $7.04. Gulf Island Fabrication shares last traded at $7.00, with a volume of 49,271 shares traded.

Wall Street Analyst Weigh In

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

Gulf Island Fabrication Stock Performance

The firm's 50-day moving average price is $6.60 and its two-hundred day moving average price is $6.67. The firm has a market capitalization of $116.62 million, a PE ratio of 9.72 and a beta of 0.22. The company has a quick ratio of 4.76, a current ratio of 4.90 and a debt-to-equity ratio of 0.18.

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

Institutional Trading of Gulf Island Fabrication

A number of institutional investors have recently added to or reduced their stakes in GIFI. Jane Street Group LLC acquired a new stake in shares of Gulf Island Fabrication in the fourth quarter worth $83,000. Goldman Sachs Group Inc. lifted its stake in shares of Gulf Island Fabrication by 13.5% in the first quarter. Goldman Sachs Group Inc. now owns 14,844 shares of the oil and gas company's stock worth $96,000 after buying an additional 1,766 shares during the last quarter. Shufro Rose & Co. LLC acquired a new stake in shares of Gulf Island Fabrication in the first quarter worth $115,000. Perritt Capital Management Inc lifted its stake 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 worth $170,000 after buying an additional 5,000 shares during the last quarter. Finally, Empowered Funds LLC lifted 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 buying an additional 1,654 shares during the last quarter. 46.40% of the stock is currently 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.