Austal (OTCMKTS:AUTLF) Reaches New 12-Month Low – Here’s Why

Shares of Austal Limited (OTCMKTS:AUTLF) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $2.42 and last traded at $2.42, with a volume of 8574 shares changing hands. The stock had previously closed at $2.70.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Austal to a “hold” rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

Austal Stock Up 7.6%

The company’s 50-day simple moving average is $2.91 and its 200 day simple moving average is $3.66. The company has a market capitalization of $1.13 billion and a P/E ratio of 34.78.

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.