Austal (OTCMKTS:AUTLF) Trading 8.2% Higher – Here’s Why

Austal Limited (OTCMKTS:AUTLF) was up 8.2% on Monday . The company traded as high as $3.25 and last traded at $3.25. Approximately 15,808 shares traded hands during mid-day trading, an increase of 32% from the average daily volume of 12,013 shares. The stock had previously closed at $3.0050.

Wall Street Analysts Forecast Growth

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

Austal Trading Up 4.8%

The business’s 50-day simple moving average is $3.47 and its two-hundred day simple moving average is $4.22. The firm has a market cap of $1.33 billion and a price-to-earnings 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.