Short Interest in Austal Limited (OTCMKTS:AUTLF) Rises By 307.6%

Austal Limited (OTCMKTS:AUTLF) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 438,362 shares, a growth of 307.6% from the June 15th total of 107,545 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 7,490 shares, the days-to-cover ratio is currently 58.5 days.

Wall Street Analysts Forecast Growth

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

Austal Trading Up 2.1%

AUTLF traded up $0.06 during trading on Friday, hitting $2.76. 6,464 shares of the company’s stock were exchanged, compared to its average volume of 10,232. The stock has a 50 day moving average price of $2.94 and a 200 day moving average price of $3.72. Austal has a 1 year low of $2.65 and a 1 year high of $6.35. The firm has a market cap of $1.16 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.