Austal (OTCMKTS:AUTLF) Stock Price Up 7.6% – Here’s What Happened

Shares of Austal Limited (OTCMKTS:AUTLF) traded up 7.6% on Thursday . The stock traded as high as $2.6890 and last traded at $2.6890. 6,400 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 10,130 shares. The stock had previously closed at $2.50.

Wall Street Analyst Weigh In

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

Austal Stock Performance

The business has a 50 day simple moving average of $2.91 and a 200-day simple moving average of $3.67. The stock has a market capitalization of $1.13 billion and a P/E ratio of 34.78.

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.