Gulf Island Fabrication, Inc. (NASDAQ:GIFI) Short Interest Up 17.0% in July

Gulf Island Fabrication, Inc. (NASDAQ:GIFI) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totalling 96,200 shares, an increase of 17.0% from the July 15th total of 82,200 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 54,400 shares, the days-to-cover ratio is currently 1.8 days.

Gulf Island Fabrication Trading Down 1.7 %

Gulf Island Fabrication stock traded down $0.10 during mid-day trading on Friday, hitting $5.72. The company’s stock had a trading volume of 21,301 shares, compared to its average volume of 67,570. The business has a 50 day moving average price of $6.17 and a 200-day moving average price of $6.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.37 and a quick ratio of 4.28. Gulf Island Fabrication has a 12 month low of $3.13 and a 12 month high of $7.93. The stock has a market cap of $93.14 million, a price-to-earnings ratio of -4.89 and a beta of 0.49.

Gulf Island Fabrication (NASDAQ:GIFI) last released its earnings results on Tuesday, August 6th. The oil and gas company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates 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 14.27% and a negative return on equity of 22.11%.

Institutional Trading of Gulf Island Fabrication

A number of institutional investors have recently made changes to their positions in the stock. Glenorchy Capital Ltd purchased a new stake in shares of Gulf Island Fabrication during the fourth quarter worth about $840,000. Factorial Partners LLC raised its position in Gulf Island Fabrication by 410.9% during the 2nd quarter. Factorial Partners LLC now owns 199,236 shares of the oil and gas company’s stock valued at $1,209,000 after purchasing an additional 160,236 shares during the last quarter. Abel Hall LLC purchased a new stake in Gulf Island Fabrication in the 4th quarter worth approximately $449,000. Acadian Asset Management LLC grew its position in shares of Gulf Island Fabrication by 480.8% in the 2nd quarter. Acadian Asset Management LLC now owns 114,177 shares of the oil and gas company’s stock worth $691,000 after buying an additional 94,519 shares during the last quarter. Finally, Heron Bay Capital Management purchased a new position in shares of Gulf Island Fabrication during the second quarter valued at approximately $234,000. Hedge funds and other institutional investors own 46.40% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Gulf Island Fabrication from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th.

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.