Short Interest in Gulf Island Fabrication, Inc. (NASDAQ:GIFI) Declines By 8.3%

Gulf Island Fabrication, Inc. (NASDAQ:GIFI) was the target of a large decline in short interest in June. As of June 30th, there was short interest totalling 231,500 shares, a decline of 8.3% from the May 30th total of 252,400 shares. Based on an average trading volume of 32,300 shares, the days-to-cover ratio is presently 7.2 days. Approximately 2.1% of the company’s stock are short sold.

GIFI traded up $0.02 during trading on Friday, hitting $6.95. The company had a trading volume of 23,186 shares, compared to its average volume of 41,148. Gulf Island Fabrication has a one year low of $6.38 and a one year high of $10.45. The stock has a 50-day moving average of $7.49.

Gulf Island Fabrication (NASDAQ:GIFI) last posted its quarterly earnings data on Monday, May 6th. The oil and gas company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20). The business had revenue of $67.61 million for the quarter. Gulf Island Fabrication had a negative net margin of 7.83% and a negative return on equity of 8.85%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sawtooth Solutions LLC bought a new stake in Gulf Island Fabrication in the 1st quarter valued at $244,000. Investors Research Corp bought a new stake in Gulf Island Fabrication in the 1st quarter valued at $29,000. Municipal Employees Retirement System of Michigan bought a new stake in Gulf Island Fabrication during the 4th quarter worth about $28,000. Ancora Advisors LLC lifted its position in Gulf Island Fabrication by 2.4% during the 4th quarter. Ancora Advisors LLC now owns 185,959 shares of the oil and gas company’s stock worth $1,343,000 after buying an additional 4,406 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new stake in Gulf Island Fabrication during the 4th quarter worth about $38,000. 66.30% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also: What is range trading?

Receive News & Ratings for Gulf Island Fabrication Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gulf Island Fabrication and related companies with MarketBeat.com's FREE daily email newsletter.