Gulf Island Fabrication (NASDAQ:GIFI) Stock Price Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Gulf Island Fabrication shares have surpassed their 200-day moving average of $6.66, reaching a trading high of $7.69 and closing at $7.63 with a volume of 28,326 shares.
• The company reported earnings of $0.07 per share for its latest quarter, missing analysts' estimates, but exceeded revenue expectations with $37.54 million compared to the expected $35.50 million.
• Institutional ownership is significant with 46.40% of the company’s stock held by hedge funds and other institutional investors, reflecting increasing interest in Gulf Island Fabrication.

Gulf Island Fabrication, Inc. (NASDAQ:GIFI - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.66 and traded as high as $7.69. Gulf Island Fabrication shares last traded at $7.63, with a volume of 28,326 shares.

Gulf Island Fabrication Stock Up 1.0%

The business has a 50-day moving average of $6.99 and a 200-day moving average of $6.68. 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 stock has a market capitalization of $113.65 million, a price-to-earnings ratio of 12.02 and a beta of 0.28.

Gulf Island Fabrication (NASDAQ:GIFI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.05). The business had revenue of $37.54 million for the quarter, compared to analyst estimates of $35.50 million. Gulf Island Fabrication had a return on equity of 12.59% and a net margin of 6.45%.

Institutional Trading of Gulf Island Fabrication

A number of hedge funds and other institutional investors have recently modified their holdings of the business. First Wilshire Securities Management Inc. increased its position in shares of Gulf Island Fabrication by 4.1% during the 2nd quarter. First Wilshire Securities Management Inc. now owns 1,019,169 shares of the oil and gas company's stock worth $6,777,000 after purchasing an additional 40,556 shares during the last quarter. Truffle Hound Capital LLC acquired a new position in Gulf Island Fabrication in the 2nd quarter valued at about $1,164,000. Bridgeway Capital Management LLC grew its position in Gulf Island Fabrication by 1.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 118,849 shares of the oil and gas company's stock valued at $790,000 after acquiring an additional 2,257 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Gulf Island Fabrication in the 2nd quarter valued at about $373,000. Finally, Ritholtz Wealth Management grew its position in Gulf Island Fabrication by 26.8% in the 2nd quarter. Ritholtz Wealth Management now owns 48,357 shares of the oil and gas company's stock valued at $322,000 after acquiring an additional 10,218 shares in the last quarter. 46.40% of the stock is 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.