Austal (OTCMKTS:AUTLF) Shares Down 7.1% – Here’s What Happened

Austal Limited (OTCMKTS:AUTLF)’s share price was down 7.1% during mid-day trading on Wednesday . The stock traded as low as $2.50 and last traded at $2.50. 1,000 shares were traded during trading, a decline of 90% from the average daily volume of 9,887 shares. The stock had previously closed at $2.69.

Wall Street Analyst Weigh In

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 company presently has an average rating of “Hold”.

Austal Stock Up 2.0%

The stock has a market cap of $1.05 billion and a price-to-earnings ratio of 34.78. The firm’s 50 day moving average is $2.83 and its two-hundred day moving average is $3.55.

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.