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

by · The Markets Daily

Gulf Island Fabrication, Inc. (NASDAQ:GIFI – Get Free Report) was the target of a significant 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 shares of the company are short sold. Based on an average trading volume of 41,100 shares, the days-to-cover ratio is presently 2.7 days.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC purchased a new position in shares of Gulf Island Fabrication in the 2nd quarter valued at about $73,000. Robotti Robert acquired a new stake in shares of Gulf Island Fabrication during the 1st quarter valued at approximately $74,000. Ritholtz Wealth Management purchased a new stake in shares of Gulf Island Fabrication during the 2nd quarter worth approximately $161,000. Squarepoint Ops LLC purchased a new stake in shares of Gulf Island Fabrication during the 2nd quarter worth approximately $178,000. Finally, Marshall Wace LLP acquired a new stake in shares of Gulf Island Fabrication in the 2nd quarter worth approximately $191,000. Hedge funds and other institutional investors own 46.40% of the company’s stock.

Gulf Island Fabrication Stock Performance

NASDAQ GIFI traded up $0.22 during trading hours on Wednesday, hitting $5.65. 20,450 shares of the stock were exchanged, compared to its average volume of 60,095. The company has a quick ratio of 3.80, a current ratio of 3.89 and a debt-to-equity ratio of 0.22. The company has a market cap of $92.00 million, a price-to-earnings ratio of -4.83 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 stock has a 50-day moving average of $5.56 and a 200 day moving average of $6.22.

Gulf Island Fabrication (NASDAQ:GIFI – Get Free Report) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Gulf Island Fabrication had a negative return on equity of 22.34% and a negative net margin of 13.47%. The business had revenue of $41.26 million for the quarter.

Gulf Island Fabrication Company Profile

(Get Free Report)

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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