Gulf Island Fabrication, Inc. (NASDAQ:GIFI) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 158,500 shares, an increase of 13.5% from the September 30th total of 139,600 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average trading volume of 123,800 shares, the days-to-cover ratio is presently 1.3 days.

NASDAQ GIFI traded up $0.08 during midday trading on Friday, hitting $4.47. 116,600 shares of the company traded hands, compared to its average volume of 74,503. Gulf Island Fabrication has a 52 week low of $4.25 and a 52 week high of $10.43. The company’s 50-day simple moving average is $5.20 and its 200-day simple moving average is $6.71.

Gulf Island Fabrication (NASDAQ:GIFI) last issued its earnings results on Monday, November 4th. The oil and gas company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.51). Gulf Island Fabrication had a negative return on equity of 10.14% and a negative net margin of 6.95%. The firm had revenue of $75.80 million for the quarter.

A number of institutional investors have recently modified their holdings of the business. Marshall Wace LLP acquired a new position in shares of Gulf Island Fabrication in the 1st quarter valued at about $62,000. AE Wealth Management LLC raised its position in shares of Gulf Island Fabrication by 91.9% in the 2nd quarter. AE Wealth Management LLC now owns 48,473 shares of the oil and gas company’s stock valued at $344,000 after acquiring an additional 23,214 shares during the period. Wells Fargo & Company MN raised its position in shares of Gulf Island Fabrication by 64.8% in the 2nd quarter. Wells Fargo & Company MN now owns 41,236 shares of the oil and gas company’s stock valued at $293,000 after acquiring an additional 16,219 shares during the period. Sawtooth Solutions LLC raised its position in shares of Gulf Island Fabrication by 76.8% in the 2nd quarter. Sawtooth Solutions LLC now owns 47,005 shares of the oil and gas company’s stock valued at $334,000 after acquiring an additional 20,420 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Gulf Island Fabrication by 78.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,643 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 1,600 shares during the period. 64.87% of the stock is owned by institutional investors.

Separately, TheStreet lowered Gulf Island Fabrication from a “c-” rating to a “d+” rating in a research note on Tuesday, August 6th.

About Gulf Island Fabrication

Gulf Island Fabrication, Inc, together with its subsidiaries, operates as a fabricator of steel structures, modules, and marine vessels in the United States. It operates through in segments: Fabrication, Shipyard, Services, and EPC. The Fabrication segment fabricates modules for petrochemical and industrial facilities, foundations for alternative energy developments, and other steel structures.

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