Gulf Island Fabrication (NASDAQ:GIFI) Shares Pass Above 200-Day Moving Average – What’s Next?

Gulf Island Fabrication, Inc. (NASDAQ:GIFI)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.09 and traded as high as $6.59. Gulf Island Fabrication shares last traded at $6.02, with a volume of 103,275 shares traded.

Gulf Island Fabrication Trading Up 7.5 %

The company has a quick ratio of 3.80, a current ratio of 3.89 and a debt-to-equity ratio of 0.22. The firm has a 50 day simple moving average of $5.53 and a two-hundred day simple moving average of $6.09.

Gulf Island Fabrication (NASDAQ:GIFI) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.11 earnings per share 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 net margin of 13.47% and a negative return on equity of 22.34%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new stake in Gulf Island Fabrication in the second quarter valued at about $73,000. Robotti Robert acquired a new stake in shares of Gulf Island Fabrication in the 1st quarter valued at approximately $74,000. Ritholtz Wealth Management purchased a new stake in shares of Gulf Island Fabrication in the second quarter valued at approximately $161,000. Squarepoint Ops LLC acquired a new position in Gulf Island Fabrication during the second quarter worth $178,000. Finally, Marshall Wace LLP purchased a new position in Gulf Island Fabrication in the second quarter worth $191,000. 46.40% of the stock is currently 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.