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

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

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Austal to a “hold” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Austal currently has a consensus rating of “Hold”.

Austal Price Performance

The company has a market capitalization of $1.26 billion and a price-to-earnings ratio of 34.78. The business’s 50-day moving average price is $3.16 and its two-hundred day moving average price is $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.