Gulf Island Fabrication (NASDAQ:GIFI) Downgraded by StockNews.com to Hold

Gulf Island Fabrication (NASDAQ:GIFIGet Rating) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Gulf Island Fabrication Stock Performance

Shares of GIFI stock opened at $3.44 on Wednesday. The stock’s fifty day moving average is $3.93 and its 200-day moving average is $4.52. The stock has a market capitalization of $55.25 million, a PE ratio of -16.38 and a beta of 0.59. Gulf Island Fabrication has a 52 week low of $3.10 and a 52 week high of $5.74.

Gulf Island Fabrication (NASDAQ:GIFIGet Rating) last posted its quarterly earnings results on Tuesday, March 28th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter. Gulf Island Fabrication had a negative return on equity of 3.32% and a negative net margin of 2.36%. The business had revenue of $38.14 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Advisor Group Holdings Inc. boosted its stake in shares of Gulf Island Fabrication by 69.8% during the 4th quarter. Advisor Group Holdings Inc. now owns 8,025 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 3,300 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in shares of Gulf Island Fabrication during the 4th quarter worth approximately $96,000. Advisor Resource Council acquired a new position in Gulf Island Fabrication in the 1st quarter valued at $199,000. JPMorgan Chase & Co. acquired a new position in Gulf Island Fabrication in the 4th quarter valued at $492,000. Finally, Geode Capital Management LLC lifted its position in shares of Gulf Island Fabrication by 7.6% during the 4th quarter. Geode Capital Management LLC now owns 111,435 shares of the oil and gas company’s stock valued at $571,000 after acquiring an additional 7,834 shares during the period. 41.85% of the stock is currently owned by institutional investors.

About Gulf Island Fabrication

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Gulf Island Fabrication, Inc engages in the business of fabricating complex steel structures and modules and the provision of specialty services. It operates through the following segments: Services, Fabrication, Shipyard, and Corporate. The Services segment provides maintenance, repair, construction, scaffolding, coatings, and welding enclosures on offshore platforms and inland structures and at industrial facilities.

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