Austal (OTCMKTS:AUTLF) Shares Gap Up – Here’s What Happened

Austal Limited (OTCMKTS:AUTLF)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $2.7470, but opened at $3.10. Austal shares last traded at $3.10, with a volume of 500 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Austal Stock Up 9.2%

The company has a market cap of $1.26 billion and a P/E ratio of 34.78. The stock’s 50-day moving average price is $3.12 and its 200 day moving average price is $3.97.

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.