Gulf Island Fabrication, Inc. (NASDAQ:GIFI) Sees Significant Growth in Short Interest

Gulf Island Fabrication, Inc. (NASDAQ:GIFI) was the recipient of a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 103,900 shares, an increase of 8.0% from the July 31st total of 96,200 shares. Based on an average daily volume of 47,000 shares, the short-interest ratio is presently 2.2 days. Currently, 0.7% of the company’s stock are sold short.

Gulf Island Fabrication Stock Down 2.0 %

Shares of GIFI stock opened at $5.78 on Wednesday. The company has a current ratio of 3.89, a quick ratio of 3.80 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average of $6.03 and a 200 day moving average of $6.34. Gulf Island Fabrication has a twelve month low of $3.13 and a twelve month high of $7.93. The stock has a market cap of $94.12 million, a P/E ratio of -4.94 and a beta of 0.49.

Gulf Island Fabrication (NASDAQ:GIFI) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The firm had revenue of $41.26 million during the quarter. Gulf Island Fabrication had a negative return on equity of 22.34% and a negative net margin of 13.47%.

Hedge Funds Weigh In On Gulf Island Fabrication

Several hedge funds have recently bought and sold shares of GIFI. Robotti Robert purchased a new stake in shares of Gulf Island Fabrication during the first quarter worth $74,000. Renaissance Technologies LLC grew its stake in Gulf Island Fabrication by 1.8% during the 2nd quarter. Renaissance Technologies LLC now owns 578,424 shares of the oil and gas company’s stock worth $3,511,000 after purchasing an additional 10,170 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Gulf Island Fabrication during the 2nd quarter worth about $73,000. Dimensional Fund Advisors LP raised its position in Gulf Island Fabrication by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 544,581 shares of the oil and gas company’s stock valued at $3,306,000 after purchasing an additional 22,042 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Gulf Island Fabrication by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 603,774 shares of the oil and gas company’s stock valued at $4,438,000 after buying an additional 24,699 shares during the period. Institutional investors and hedge funds own 46.40% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Gulf Island Fabrication from a “buy” rating to a “hold” rating in a report on Thursday, May 9th.

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.