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

Key Points

• Gulf Island Fabrication's share price has crossed above its 200-day moving average of $6.67, reaching as high as $6.88 during trading.
• Wall Street analysts have upgraded Gulf Island Fabrication from a "hold" rating to a "buy" rating, indicating a more optimistic outlook for the company.
• The company reported earnings of $0.23 EPS for the last quarter, significantly beating analyst expectations and achieving a revenue of $40.27 million.

Gulf Island Fabrication, Inc. (NASDAQ:GIFI - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.67 and traded as high as $6.88. Gulf Island Fabrication shares last traded at $6.87, with a volume of 24,626 shares changing hands.

Analyst Ratings Changes

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

Gulf Island Fabrication Trading Down 0.3%

The company's fifty day moving average is $6.79 and its two-hundred day moving average is $6.66. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.76 and a current ratio of 4.90. The company has a market cap of $111.11 million, a price-to-earnings ratio of 9.26 and a beta of 0.24.

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

Hedge Funds Weigh In On Gulf Island Fabrication

Institutional investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new stake in Gulf Island Fabrication in the 4th quarter valued at $83,000. Goldman Sachs Group Inc. grew its stake in Gulf Island Fabrication by 13.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,844 shares of the oil and gas company's stock valued at $96,000 after acquiring an additional 1,766 shares during the period. Shufro Rose & Co. LLC acquired a new stake in Gulf Island Fabrication in the 1st quarter valued at $115,000. Empowered Funds LLC grew its stake in Gulf Island Fabrication by 6.2% in the 1st quarter. Empowered Funds LLC now owns 28,144 shares of the oil and gas company's stock valued at $182,000 after acquiring an additional 1,654 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Gulf Island Fabrication in the 4th quarter valued at $219,000. 46.40% of the stock is owned by hedge funds and other institutional investors.

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.