Short Interest in Gulf Island Fabrication, Inc. (NASDAQ:GIFI) Rises By 27.8%

Gulf Island Fabrication, Inc. (NASDAQ:GIFI) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 73,600 shares, an increase of 27.8% from the February 28th total of 57,600 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average daily trading volume, of 48,900 shares, the short-interest ratio is presently 1.5 days.

Analyst Ratings Changes

Separately, StockNews.com raised Gulf Island Fabrication from a “hold” rating to a “buy” rating in a research report on Thursday, March 27th.

Institutional Investors Weigh In On Gulf Island Fabrication

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 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 acquiring an additional 3,683 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in Gulf Island Fabrication in the 3rd quarter worth about $260,000. Empowered Funds LLC purchased a new stake in shares of Gulf Island Fabrication during the 4th quarter worth about $180,000. Peapod Lane Capital LLC acquired a new stake in shares of Gulf Island Fabrication during the 4th quarter valued at about $1,001,000. Finally, Factorial Partners LLC grew its stake in shares of Gulf Island Fabrication by 0.9% in the 4th quarter. Factorial Partners LLC now owns 221,673 shares of the oil and gas company’s stock valued at $1,510,000 after buying an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 46.40% of the company’s stock.

Gulf Island Fabrication Price Performance

NASDAQ GIFI opened at $6.46 on Tuesday. The company has a 50 day simple moving average of $6.70 and a 200-day simple moving average of $6.48. Gulf Island Fabrication has a 52-week low of $5.12 and a 52-week high of $7.93. The firm has a market capitalization of $105.60 million, a price-to-earnings ratio of 6.15 and a beta of 0.51. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.61 and a quick ratio of 4.50.

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.