Gulf Island Fabrication (NASDAQ:GIFI) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Gulf Island Fabrication, Inc. (NASDAQ:GIFI - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.70 and traded as high as $7.15. Gulf Island Fabrication shares last traded at $6.85, with a volume of 16,351 shares.

Gulf Island Fabrication Price Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.51 and a current ratio of 4.63. The business's fifty day simple moving average is $6.98 and its 200 day simple moving average is $6.70. The stock has a market cap of $109.81 million, a price-to-earnings ratio of 11.61 and a beta of 0.28.

Gulf Island Fabrication (NASDAQ:GIFI - Get Free Report) last announced its earnings results on Wednesday, August 6th. The oil and gas company reported $0.07 earnings per share 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 business had revenue of $37.54 million for the quarter, compared to analyst estimates of $35.50 million.

Hedge Funds Weigh In On Gulf Island Fabrication

A number of institutional investors have recently made changes to their positions in GIFI. Bridgeway Capital Management LLC grew its position in shares of Gulf Island Fabrication by 1.9% during the second quarter. Bridgeway Capital Management LLC now owns 118,849 shares of the oil and gas company's stock worth $790,000 after buying an additional 2,257 shares in the last quarter. First Wilshire Securities Management Inc. raised its holdings in Gulf Island Fabrication by 4.1% in the second quarter. First Wilshire Securities Management Inc. now owns 1,019,169 shares of the oil and gas company's stock valued at $6,777,000 after acquiring an additional 40,556 shares in the last quarter. XTX Topco Ltd bought a new position in Gulf Island Fabrication during the 2nd quarter valued at $72,000. Truffle Hound Capital LLC acquired a new position in Gulf Island Fabrication during the 2nd quarter worth $1,164,000. Finally, Bailard Inc. acquired a new position in Gulf Island Fabrication during the 2nd quarter worth $237,000. 46.40% of the stock is owned by institutional investors and hedge funds.

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.

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