Gulf Island Fabrication (NASDAQ:GIFI) Shares Cross Above Two Hundred Day Moving Average of $4.23

Shares of Gulf Island Fabrication, Inc. (NASDAQ:GIFI) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.23 and traded as high as $4.40. Gulf Island Fabrication shares last traded at $4.40, with a volume of 11,980 shares trading hands.

The firm has a market cap of $66.09 million, a price-to-earnings ratio of -2.05 and a beta of 0.87. The stock has a 50 day moving average of $4.05 and a 200 day moving average of $4.23.

Gulf Island Fabrication (NASDAQ:GIFI) last released its earnings results on Tuesday, November 9th. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.54. Gulf Island Fabrication had a negative return on equity of 9.72% and a negative net margin of 19.76%. The firm had revenue of $19.59 million for the quarter.

Large investors have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in shares of Gulf Island Fabrication during the first quarter worth about $62,000. Susquehanna International Group LLP bought a new stake in shares of Gulf Island Fabrication during the second quarter worth about $126,000. State Street Corp bought a new stake in shares of Gulf Island Fabrication during the second quarter worth about $224,000. Aristides Capital LLC bought a new stake in shares of Gulf Island Fabrication during the second quarter worth about $307,000. Finally, Geode Capital Management LLC grew its holdings in shares of Gulf Island Fabrication by 3.0% during the second quarter. Geode Capital Management LLC now owns 97,136 shares of the oil and gas company’s stock worth $439,000 after purchasing an additional 2,818 shares during the last quarter. Institutional investors own 39.00% of the company’s stock.

About Gulf Island Fabrication (NASDAQ:GIFI)

Gulf Island Fabrication, Inc engages in the manufacture of steel structures, modules, and marine vessels. The firm operates through the following segments: Shipyard, Fabrication & Services and Corporate. The Shipyard segment engages in the design, construction and repair of marine vessels and also provides repair and maintenance services and fabricates newbuild marine vessels, including OSVs, MPSVs, research vessels, tugboats, salvage vessels, towboats, barges and drydocks, anchor handling vessels and lift boats.

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