Austal (OTCMKTS:AUTLF) Shares Down 8.2% – Here’s Why

Shares of Austal Limited (OTCMKTS:AUTLF) fell 8.2% on Monday . The company traded as low as $2.80 and last traded at $2.80. 2,850 shares traded hands during trading, a decline of 74% from the average session volume of 11,047 shares. The stock had previously closed at $3.05.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Austal to a “hold” rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Austal Stock Performance

The stock has a market cap of $1.26 billion and a P/E ratio of 34.78. The stock has a fifty day simple moving average of $3.16 and a 200-day simple moving average of $4.02.

About Austal

Austal is a global shipbuilding and defense contractor specializing in the design, construction, and support of high-speed aluminum vessels. Headquartered in Henderson, Western Australia, the company delivers commercial ferries, patrol boats, and military transport ships to navies and ferry operators worldwide. Its focus on lightweight, fuel-efficient hull designs has made it a preferred partner for customers seeking rapid-transit and littoral operations capabilities.

Founded in 1988, Austal began as a commercial ferry builder and has since expanded into defense markets, securing major contracts with the U.S.