StockNews.com Upgrades Gulf Island Fabrication (NASDAQ:GIFI) to Buy
Price Forecast, GIFI stock price prediction This bodes well for the company's stock price.
Investors received a report on Monday that changed the rating from hold to buy.
Gulf Island Fabrication Stock Performance
On Monday, the stock opened at $3.21. Gulf Island Fabrication's 52-week low is $3.13, and its 52-week highest is $5.74. The company's market capitalization is $51.84million, with a P/E of 21.40. It also has a beta value of 0.60. The last time the company released its quarterly earnings was on Tuesday, 9th May. The oil and Gas company reported a quarterly earnings per share of $0.04 The company had a revenue of $62,17 million for the quarter. Gulf Island Fabrication's net margin was 1.32%, and its return on equity was 2.27%.
Gulf Island Fabrication: Institutional Investors Take a Stand
GIFI shares have been bought and sold by several hedge funds in the past few months. Renaissance Technologies LLC increased its holdings in Gulf Island Fabrication during the first quarter by 3.0%. Renaissance Technologies LLC owns 716.994 shares in the oil and gas firm's stock, worth $2,811,000, after purchasing an additional 21,070 during the last quarter. Dimensional Fund Advisors LP increased its holdings in Gulf Island Fabrication during the third quarter by 0.7%. Dimensional Fund Advisors LP owns 640 703 shares in the oil and gasoline company, worth $2,672,000, after acquiring 4,265 additional shares during the previous quarter. Mercer Global Advisors Inc. ADV purchased a new position of shares in Gulf Island Fabrication worth $96,000 during the fourth quarter. Advisor Group Holdings Inc. grew its holdings of Gulf Island Fabrication shares by 69.8% in the fourth quarter. Advisor Group Holdings Inc. owns 8,025 of the oil company's shares worth $42,000, after buying an additional 3,300 during the period. JPMorgan Chase & Co. purchased a new stake in Gulf Island Fabrication during the fourth quarter, valued at $492,000. Institutional investors and hedge fund currently own 44.87%.
Gulf Island Fabrication Company profile
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Gulf Island Fabrication, Inc., along with its subsidiaries, is a fabricator in the United States of steel structures, modules, and other products. The company operates under three divisions: Services, Fabrication, Shipyard. The company manufactures modules, skids and piping systems, for onshore refinery, petrochemical and LNG facilities, industrial and offshore facilities, foundations and secondary steel components for alternative energy development and coastal mooring structures; offshore production platforms and related structures, such as jacket foundations piles and topsides of fixed production and utility platform, as well as topsides and hulls for floating production or utility platforms.
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