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

Shares of Gulf Island Fabrication, Inc. (NASDAQ:GIFI - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.68 and traded as high as $7.15. Gulf Island Fabrication shares last traded at $6.91, with a volume of 23,010 shares changing hands.

Analyst Ratings Changes

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

Gulf Island Fabrication Price Performance

The company has a market capitalization of $110.30 million, a price-to-earnings ratio of 9.19 and a beta of 0.22. 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 business has a fifty day moving average price of $6.74 and a 200 day moving average price of $6.68.

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

Hedge Funds Weigh In On Gulf Island Fabrication

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ritholtz Wealth Management grew 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 acquiring an additional 20,650 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Gulf Island Fabrication during the 4th quarter worth about $83,000. Marshall Wace LLP bought a new position in shares of Gulf Island Fabrication during the 4th quarter worth about $219,000. Aristides Capital LLC grew its holdings in shares of Gulf Island Fabrication by 4.7% during the 4th quarter. Aristides Capital LLC now owns 71,223 shares of the oil and gas company's stock worth $485,000 after purchasing an additional 3,201 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Gulf Island Fabrication by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 554,697 shares of the oil and gas company's stock valued at $3,777,000 after acquiring an additional 18,336 shares during the period. Institutional investors and hedge funds own 46.40% of the company's stock.

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.