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

Key Points

• Gulf Island Fabrication's stock price has surpassed its 200-day moving average, trading at $7.37, up from the average of $6.77.
• Currently, the company has a market cap of $118.14 million and a consensus rating of "Hold" from analysts, indicating mixed investor sentiment.
• Recent institutional buying activities include a significant 118.1% increase in holdings by Ritholtz Wealth Management during the first quarter.

Shares of Gulf Island Fabrication, Inc. (NASDAQ:GIFI - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.77 and traded as high as $7.59. Gulf Island Fabrication shares last traded at $7.37, with a volume of 36,222 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Gulf Island Fabrication in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Gulf Island Fabrication presently has a consensus rating of "Hold".

Gulf Island Fabrication Stock Up 0.3%

The firm has a market cap of $118.14 million, a price-to-earnings ratio of 12.49 and a beta of 0.33. The company has a current ratio of 4.63, a quick ratio of 4.51 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average of $7.05 and a 200-day moving average of $6.77.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ritholtz Wealth Management boosted its position 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 purchasing an additional 20,650 shares during the period. Shufro Rose & Co. LLC acquired a new position in Gulf Island Fabrication during the 1st quarter worth $115,000. Goldman Sachs Group Inc. boosted its position in Gulf Island Fabrication by 13.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,844 shares of the oil and gas company's stock worth $96,000 after acquiring an additional 1,766 shares during the period. Bridgeway Capital Management LLC boosted its position in Gulf Island Fabrication by 1.9% during the 2nd quarter. Bridgeway Capital Management LLC now owns 118,849 shares of the oil and gas company's stock worth $790,000 after acquiring an additional 2,257 shares during the period. Finally, Jane Street Group LLC boosted its position in Gulf Island Fabrication by 208.1% during the 1st quarter. Jane Street Group LLC now owns 37,488 shares of the oil and gas company's stock worth $242,000 after acquiring an additional 25,321 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.

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