Austal (OTCMKTS:AUTLF) Shares Gap Up – Time to Buy?

Shares of Austal Limited (OTCMKTS:AUTLF) gapped up prior to trading on Friday . The stock had previously closed at $2.77, but opened at $2.96. Austal shares last traded at $2.96, with a volume of 200 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised shares of 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, the stock currently has an average rating of “Hold”.

Austal Trading Up 6.9%

The stock has a market cap of $1.25 billion and a price-to-earnings ratio of 34.78. The stock’s 50-day moving average price is $3.08 and its 200-day moving average price is $3.93.

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.