Gulf Island Fabrication, Inc. (NASDAQ:GIFI – Get Free Report)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.45 and traded as high as $4.17. Gulf Island Fabrication shares last traded at $4.08, with a volume of 25,039 shares traded.
Analysts Set New Price Targets
Separately, StockNews.com started coverage on shares of Gulf Island Fabrication in a report on Thursday, October 5th. They set a “hold” rating for the company.
Gulf Island Fabrication Trading Up 0.7 %
Hedge Funds Weigh In On Gulf Island Fabrication
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bailard Inc. acquired a new position in Gulf Island Fabrication during the 2nd quarter valued at about $133,000. Tower Bridge Advisors acquired a new stake in Gulf Island Fabrication in the 2nd quarter valued at approximately $173,000. EAM Investors LLC acquired a new position in Gulf Island Fabrication during the 4th quarter worth $1,181,000. Geode Capital Management LLC grew its stake in shares of Gulf Island Fabrication by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 111,435 shares of the oil and gas company’s stock worth $571,000 after purchasing an additional 7,834 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in shares of Gulf Island Fabrication during the fourth quarter valued at $492,000. 44.42% of the stock is currently owned by institutional investors and hedge funds.
Gulf Island Fabrication Company Profile
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 fabricates modules, skids, and piping systems for onshore refining, petrochemical, liquified natural gas (LNG), industrial, and offshore facilities; foundations, secondary steel components, and support structures for alternative energy developments and coastal mooring facilities; offshore production platforms and associated structures, including jacket foundations, piles, and topsides for fixed production and utility platforms, as well as hulls and topsides for floating production and utility platforms; and other complex steel structures and components.
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