Short Interest in Gulf Island Fabrication, Inc. (NASDAQ:GIFI) Declines By 25.5%

Gulf Island Fabrication, Inc. (NASDAQ:GIFI) was the recipient of a large decline in short interest in March. As of March 31st, there was short interest totalling 54,800 shares, a decline of 25.5% from the March 15th total of 73,600 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily volume of 51,600 shares, the short-interest ratio is presently 1.1 days.

Gulf Island Fabrication Stock Down 3.9 %

Shares of GIFI opened at $6.33 on Friday. The company has a market capitalization of $103.47 million, a PE ratio of 6.03 and a beta of 0.24. The business’s 50 day moving average is $6.43 and its 200 day moving average is $6.55. The company has a current ratio of 4.61, a quick ratio of 4.50 and a debt-to-equity ratio of 0.21. Gulf Island Fabrication has a 12-month low of $5.12 and a 12-month high of $7.59.

Hedge Funds Weigh In On Gulf Island Fabrication

A number of institutional investors have recently modified their holdings of the stock. Ritholtz Wealth Management boosted its stake in Gulf Island Fabrication by 118.1% in the first quarter. Ritholtz Wealth Management now owns 38,139 shares of the oil and gas company’s stock valued at $246,000 after acquiring an additional 20,650 shares in the last quarter. Bridgeway Capital Management LLC increased its position in shares of Gulf Island Fabrication by 29.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 112,438 shares of the oil and gas company’s stock valued at $766,000 after buying an additional 25,290 shares in the last quarter. 4WEALTH Advisors Inc. acquired a new position in Gulf Island Fabrication during the fourth quarter worth $261,000. Jane Street Group LLC purchased a new stake in Gulf Island Fabrication during the 4th quarter worth approximately $83,000. Finally, Dimensional Fund Advisors LP raised its stake in Gulf Island Fabrication by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 554,697 shares of the oil and gas company’s stock valued at $3,777,000 after purchasing an additional 18,336 shares during the last quarter. 46.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com cut Gulf Island Fabrication from a “buy” rating to a “hold” rating in a research note on Friday, April 4th.

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.