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

Key Points

• Gulf Island Fabrication's stock price has surpassed its 200-day moving average of $6.65, recently trading at $6.79 with a volume of 49,952 shares.
• Wall Street analysts have upgraded Gulf Island Fabrication's stock from a "hold" to a "buy" rating, indicating increased confidence in its potential for growth.
• Despite reporting a $0.07 EPS that missed the consensus estimate, the company achieved revenue of $37.54 million, exceeding analyst expectations of $35.50 million.

Gulf Island Fabrication, Inc. (NASDAQ:GIFI - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.65 and traded as high as $6.85. Gulf Island Fabrication shares last traded at $6.79, with a volume of 49,952 shares changing hands.

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 stock has a market capitalization of $108.84 million, a P/E ratio of 11.51 and a beta of 0.24. The company's 50-day moving average is $6.86 and its two-hundred day moving average is $6.65. The company has a current ratio of 4.63, a quick ratio of 4.51 and a debt-to-equity ratio of 0.19.

Gulf Island Fabrication (NASDAQ:GIFI - Get Free Report) last released its earnings results 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). The company had revenue of $37.54 million for the quarter, compared to analyst estimates of $35.50 million. Gulf Island Fabrication had a net margin of 6.45% and a return on equity of 12.59%.

Hedge Funds Weigh In On Gulf Island Fabrication

Large investors have recently bought and sold shares of the stock. Ritholtz Wealth Management increased its stake in Gulf Island Fabrication by 118.1% during the 1st quarter. Ritholtz Wealth Management now owns 38,139 shares of the oil and gas company's stock valued at $246,000 after buying an additional 20,650 shares during the period. Shufro Rose & Co. LLC acquired a new position in Gulf Island Fabrication during the 1st quarter valued at about $115,000. Jane Street Group LLC acquired a new position in Gulf Island Fabrication during the 4th quarter valued at about $83,000. Marshall Wace LLP acquired a new position in Gulf Island Fabrication during the 4th quarter valued at about $219,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Gulf Island Fabrication by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 554,697 shares of the oil and gas company's stock worth $3,777,000 after purchasing an additional 18,336 shares during the last quarter. Institutional investors and hedge funds own 46.40% of the company's stock.

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.

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