StockNews.com Downgrades Gulf Island Fabrication (NASDAQ:GIFI) to Hold

StockNews.com cut shares of Gulf Island Fabrication (NASDAQ:GIFI) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

Gulf Island Fabrication Trading Down 1.0 %

Shares of Gulf Island Fabrication stock opened at $6.65 on Wednesday. The company has a market capitalization of $108.70 million, a P/E ratio of 6.33 and a beta of 0.51. The company has a debt-to-equity ratio of 0.21, a quick ratio of 4.50 and a current ratio of 4.61. The company has a fifty day moving average of $6.76 and a 200 day moving average of $6.43. Gulf Island Fabrication has a fifty-two week low of $5.12 and a fifty-two week high of $7.93.

Institutional Trading of Gulf Island Fabrication

Several hedge funds have recently bought and sold shares of GIFI. Jane Street Group LLC purchased a new stake in Gulf Island Fabrication in the 4th quarter worth $83,000. Perritt Capital Management Inc lifted its stake in Gulf Island Fabrication by 25.0% in the 4th quarter. Perritt Capital Management Inc now owns 25,000 shares of the oil and gas company’s stock worth $170,000 after purchasing an additional 5,000 shares in the last quarter. Empowered Funds LLC purchased a new stake in Gulf Island Fabrication in the 4th quarter worth $180,000. Marshall Wace LLP purchased a new stake in Gulf Island Fabrication in the 4th quarter worth $219,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake 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 in the last quarter. Hedge funds and other institutional investors 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.