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NEW YORK ( TheStreet) -- Gulf Island Fabrication (Nasdaq: GIFI) hit a new 52-week high Friday as it is currently trading at $35.96, above its previous 52-week high of $35.85 with 79,946 shares traded as of 1:41 p.m. ET. Average volume has been 82,200 shares over the past 30 days. Gulf Island Fabrication has a market cap of $478.2 million and is part of the basic materials sector and energy industry. Shares are up 21.4% year to date as of the close of trading on Thursday. Gulf Island Fabrication, Inc. operates as a fabricator of offshore drilling and production platforms, hull and deck sections of floating production platforms, and other specialized structures used in the development and production of offshore oil and gas reserves. The company has a P/E ratio of 333.3, equal to the average energy industry P/E ratio and above the S&P 500 P/E ratio of 17.7.