Short Interest in Gulf Island Fabrication, Inc. (NASDAQ:GIFI) Drops By 31.8%

Gulf Island Fabrication, Inc. (NASDAQ:GIFI) was the recipient of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 57,600 shares, a drop of 31.8% from the February 13th total of 84,400 shares. Based on an average daily trading volume, of 47,500 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.4% of the shares of the company are short sold.

Gulf Island Fabrication Stock Performance

NASDAQ GIFI opened at $6.12 on Tuesday. The company has a quick ratio of 4.50, a current ratio of 4.61 and a debt-to-equity ratio of 0.21. Gulf Island Fabrication has a 52-week low of $5.12 and a 52-week high of $7.93. The business’s 50-day moving average price is $6.81 and its 200 day moving average price is $6.42. The firm has a market cap of $100.04 million, a P/E ratio of 5.83 and a beta of 0.51.

Hedge Funds Weigh In On Gulf Island Fabrication

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new stake in Gulf Island Fabrication in the fourth quarter valued at about $83,000. Perritt Capital Management Inc lifted its position in Gulf Island Fabrication by 25.0% in the fourth quarter. Perritt Capital Management Inc now owns 25,000 shares of the oil and gas company’s stock valued at $170,000 after purchasing an additional 5,000 shares during the period. Empowered Funds LLC acquired a new stake in Gulf Island Fabrication in the fourth quarter valued at about $180,000. Marshall Wace LLP acquired a new stake in Gulf Island Fabrication in the fourth quarter valued at about $219,000. Finally, 4WEALTH Advisors Inc. acquired a new stake in Gulf Island Fabrication in the fourth quarter valued at about $261,000. Hedge funds and other institutional investors own 46.40% of the company’s stock.

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 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.