Gulf Island Fabrication, Inc. (NASDAQ:GIFI) Short Interest Update

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Gulf Island Fabrication, Inc. (NASDAQ:GIFI) saw a large growth in short interest in November. As of November 29th, there was short interest totalling 170,600 shares, a growth of 6.7% from the November 14th total of 159,900 shares. Based on an average daily trading volume, of 137,500 shares, the days-to-cover ratio is presently 1.2 days. Approximately 1.7% of the shares of the stock are sold short.

In other news, major shareholder Piton Capital Partners Llc bought 249,258 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was bought at an average cost of $4.52 per share, for a total transaction of $1,126,646.16. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert M. Averick bought 33,952 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was purchased at an average price of $4.50 per share, with a total value of $152,784.00. The disclosure for this purchase can be found here. Insiders bought a total of 305,242 shares of company stock valued at $1,386,545 over the last 90 days. Corporate insiders own 13.06% of the company’s stock.

Several large investors have recently modified their holdings of the company. Russell Investments Group Ltd. increased its position in Gulf Island Fabrication by 78.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,643 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 1,600 shares in the last quarter. State of Alaska Department of Revenue increased its position in Gulf Island Fabrication by 108.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,718 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 5,048 shares in the last quarter. Marshall Wace LLP acquired a new position in Gulf Island Fabrication during the 1st quarter worth approximately $62,000. Susquehanna International Group LLP acquired a new position in Gulf Island Fabrication during the 2nd quarter worth approximately $151,000. Finally, Wells Fargo & Company MN increased its position in Gulf Island Fabrication by 64.8% during the 2nd quarter. Wells Fargo & Company MN now owns 41,236 shares of the oil and gas company’s stock worth $293,000 after purchasing an additional 16,219 shares in the last quarter. Institutional investors own 64.71% of the company’s stock.

Shares of NASDAQ:GIFI traded down $0.01 during midday trading on Friday, hitting $5.03. The stock had a trading volume of 127,774 shares, compared to its average volume of 86,947. The company’s 50-day moving average price is $5.01 and its 200-day moving average price is $6.23. Gulf Island Fabrication has a fifty-two week low of $4.25 and a fifty-two week high of $10.43.

Gulf Island Fabrication (NASDAQ:GIFI) last issued its earnings results on Monday, November 4th. The oil and gas company reported ($0.44) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.51). The firm had revenue of $75.80 million during the quarter. Gulf Island Fabrication had a negative net margin of 6.95% and a negative return on equity of 10.14%.

Gulf Island Fabrication Company Profile

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.

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