Short Interest in Gulf Island Fabrication, Inc. (NASDAQ:GIFI) Declines By 18.5%

by · The Cerbat Gem

Gulf Island Fabrication, Inc. (NASDAQ:GIFI – Get Free Report) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 88,800 shares, a drop of 18.5% from the October 15th total of 109,000 shares. Based on an average daily volume of 35,800 shares, the short-interest ratio is currently 2.5 days. Approximately 0.6% of the shares of the stock are sold short.

Gulf Island Fabrication Stock Down 4.1 %

Shares of NASDAQ GIFI opened at $6.80 on Friday. The stock has a market capitalization of $111.18 million, a P/E ratio of 6.48 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.61 and a quick ratio of 4.50. Gulf Island Fabrication has a one year low of $4.00 and a one year high of $7.93. The firm’s 50 day simple moving average is $5.70 and its two-hundred day simple moving average is $6.09.

Gulf Island Fabrication (NASDAQ:GIFI – Get Free Report) last released its earnings results on Tuesday, November 5th. The oil and gas company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. The company had revenue of $37.64 million for the quarter. Gulf Island Fabrication had a net margin of 10.54% and a return on equity of 20.64%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GIFI. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Gulf Island Fabrication by 9.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,407 shares of the oil and gas company’s stock worth $234,000 after buying an additional 3,683 shares during the period. Robotti Robert bought a new stake in Gulf Island Fabrication in the 1st quarter worth $74,000. Renaissance Technologies LLC increased its position in shares of Gulf Island Fabrication by 1.8% in the second quarter. Renaissance Technologies LLC now owns 578,424 shares of the oil and gas company’s stock valued at $3,511,000 after acquiring an additional 10,170 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Gulf Island Fabrication during the second quarter valued at about $73,000. Finally, Factorial Partners LLC raised its stake in shares of Gulf Island Fabrication by 10.3% during the third quarter. Factorial Partners LLC now owns 219,673 shares of the oil and gas company’s stock valued at $1,239,000 after acquiring an additional 20,437 shares during the last quarter. Hedge funds and other institutional investors own 46.40% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut Gulf Island Fabrication from a “buy” rating to a “hold” rating in a report on Friday.

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Gulf Island Fabrication Company Profile

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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.

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