Gulf Island Fabrication, Inc. (NASDAQ:GIFI – Get Free Report)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.30 and traded as high as $7.03. Gulf Island Fabrication shares last traded at $6.81, with a volume of 39,399 shares changing hands.
Analyst Upgrades and Downgrades
Separately, StockNews.com lowered shares of Gulf Island Fabrication from a “buy” rating to a “hold” rating in a research note on Friday, November 15th.
Get Our Latest Research Report on Gulf Island Fabrication
Gulf Island Fabrication Stock Down 0.9 %
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its position in Gulf Island Fabrication by 9.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,407 shares of the oil and gas company’s stock worth $234,000 after purchasing an additional 3,683 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Gulf Island Fabrication in the 2nd quarter worth $73,000. Glenorchy Capital Ltd grew its position in Gulf Island Fabrication by 24.5% in the 3rd quarter. Glenorchy Capital Ltd now owns 298,005 shares of the oil and gas company’s stock worth $1,681,000 after purchasing an additional 58,622 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in Gulf Island Fabrication in the 3rd quarter worth $260,000. Finally, De Lisle Partners LLP grew its position in Gulf Island Fabrication by 14.2% in the 3rd quarter. De Lisle Partners LLP now owns 241,270 shares of the oil and gas company’s stock worth $1,344,000 after purchasing an additional 30,000 shares during the last quarter. 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.
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