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

Gulf Island Fabrication, Inc. (NASDAQ:GIFI) saw a large 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. Based on an average daily volume of 48,900 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.5% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

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

Gulf Island Fabrication Price Performance

GIFI opened at $6.67 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.61 and a quick ratio of 4.50. The stock’s 50 day simple moving average is $6.67 and its 200 day simple moving average is $6.49. The firm has a market cap of $109.03 million, a price-to-earnings ratio of 6.35 and a beta of 0.51. Gulf Island Fabrication has a 1 year low of $5.12 and a 1 year high of $7.93.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GIFI. Jane Street Group LLC bought a new stake in Gulf Island Fabrication in the 4th quarter worth $83,000. Perritt Capital Management Inc boosted its holdings in shares of Gulf Island Fabrication by 25.0% during the fourth quarter. Perritt Capital Management Inc now owns 25,000 shares of the oil and gas company’s stock worth $170,000 after purchasing an additional 5,000 shares during the period. Empowered Funds LLC bought a new stake in shares of Gulf Island Fabrication in the fourth quarter worth about $180,000. Marshall Wace LLP purchased a new position in Gulf Island Fabrication during the 4th quarter valued at about $219,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Gulf Island Fabrication by 9.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,407 shares of the oil and gas company’s stock valued at $234,000 after purchasing an additional 3,683 shares during the last quarter. 46.40% of the stock is owned by hedge funds and other institutional investors.

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.