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

Gulf Island Fabrication, Inc. (NASDAQ:GIFI) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 111,500 shares, an increase of 6.3% from the September 15th total of 104,900 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average daily trading volume, of 41,100 shares, the days-to-cover ratio is currently 2.7 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GIFI. Robotti Robert bought a new stake in shares of Gulf Island Fabrication during the first quarter valued at approximately $74,000. Renaissance Technologies LLC grew its position in Gulf Island Fabrication by 1.8% in the 2nd quarter. Renaissance Technologies LLC now owns 578,424 shares of the oil and gas company’s stock valued at $3,511,000 after purchasing an additional 10,170 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Gulf Island Fabrication during the 2nd quarter valued at $73,000. Dimensional Fund Advisors LP raised its holdings in Gulf Island Fabrication by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 544,581 shares of the oil and gas company’s stock worth $3,306,000 after buying an additional 22,042 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Gulf Island Fabrication by 4.3% in the first 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 in the last quarter. 46.40% of the stock is owned by institutional investors and hedge funds.

Gulf Island Fabrication Stock Up 2.7 %

Gulf Island Fabrication stock opened at $5.80 on Friday. The company has a market capitalization of $94.44 million, a PE ratio of -4.96 and a beta of 0.47. Gulf Island Fabrication has a 12-month low of $3.80 and a 12-month high of $7.93. The firm’s fifty day moving average is $5.57 and its 200 day moving average is $6.22. The company has a quick ratio of 3.80, a current ratio of 3.89 and a debt-to-equity ratio of 0.22.

Gulf Island Fabrication (NASDAQ:GIFI) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.02). The company 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%.

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.