Austal (OTCMKTS:AUTLF) Shares Gap Up – Time to Buy?

Shares of Austal Limited (OTCMKTS:AUTLF) gapped up prior to trading on Friday . The stock had previously closed at $2.77, but opened at $2.93. Austal shares last traded at $2.65, with a volume of 2,100 shares.

Wall Street Analysts Forecast Growth

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

Austal Trading Down 1.9%

The company has a market capitalization of $1.12 billion and a price-to-earnings ratio of 34.78. The stock’s fifty day simple moving average is $2.94 and its 200-day simple moving average is $3.73.

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.