Austal (OTCMKTS:AUTLF) Shares Down 7.8% – What’s Next?

Austal Limited (OTCMKTS:AUTLF)’s stock price dropped 7.8% on Wednesday . The company traded as low as $2.72 and last traded at $2.72. Approximately 1,150 shares traded hands during trading, a decline of 89% from the average session volume of 10,211 shares. The stock had previously closed at $2.95.

Analysts Set New Price Targets

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

Austal Trading Down 7.0%

The company has a market capitalization of $1.17 billion and a price-to-earnings ratio of 34.78. The stock’s 50 day moving average price is $2.96 and its 200 day moving average price is $3.75.

Austal Company Profile

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.