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

Shares of Austal Limited (OTCMKTS:AUTLF) gapped down before the market opened on Thursday . The stock had previously closed at $3.14, but opened at $2.75. Austal shares last traded at $2.8289, with a volume of 5,365 shares trading hands.

Analysts Set New Price Targets

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

Austal Stock Up 6.9%

The company has a market capitalization of $1.25 billion and a price-to-earnings ratio of 34.78. The company’s 50 day simple moving average is $3.08 and its two-hundred day simple moving average is $3.92.

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.