Gulf Island Fabrication (NASDAQ:GIFI) Share Price Passes Above 200 Day Moving Average - Time to Sell?

Gulf Island Fabrication, Inc. (NASDAQ:GIFI - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.68 and traded as high as $6.82. Gulf Island Fabrication shares last traded at $6.65, with a volume of 31,963 shares traded.

Wall Street Analysts Forecast Growth

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 Up 0.9%

The firm's 50 day moving average price is $6.62 and its 200-day moving average price is $6.68. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.90 and a quick ratio of 4.76. The stock has a market cap of $108.84 million, a P/E ratio of 9.07 and a beta of 0.22.

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

Institutional Investors Weigh In On Gulf Island Fabrication

Several institutional investors have recently modified their holdings of GIFI. Jane Street Group LLC bought a new position in Gulf Island Fabrication during the 4th quarter valued at about $83,000. Goldman Sachs Group Inc. lifted its position 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 purchasing an additional 1,766 shares during the period. Shufro Rose & Co. LLC purchased a new stake in Gulf Island Fabrication in the first quarter worth approximately $115,000. Perritt Capital Management Inc grew its position in Gulf Island Fabrication by 25.0% in the 4th quarter. Perritt Capital Management Inc now owns 25,000 shares of the oil and gas company's stock worth $170,000 after purchasing an additional 5,000 shares during the period. Finally, Empowered Funds LLC raised its stake in Gulf Island Fabrication by 6.2% during the 1st quarter. Empowered Funds LLC now owns 28,144 shares of the oil and gas company's stock valued at $182,000 after buying an additional 1,654 shares during the last quarter. 46.40% of the stock is owned by hedge funds and other 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.