That is correct. they are one IUCN category below "Endangered," i.e. "Vulnerable."
The IUCN Red List of Threatened Species
Established in 1964, the IUCN Red List of Threatened Species has evolved to become the world’s most comprehensive information source on the global conservation status of animal, fungi and plant species.
"This species has undergone a severe population decline throughout its entire range and is now rare where it was formerly abundant due to overfishing (Sadovy and Eklund 1999). In most areas, there has been no indication of population recovery. Unfortunately, there are very few historical data sets that are available to gauge population sizes prior to widespread exploitation (beginning around the 1950s) to serve as a reference for the degree of decline in population sizes. As of the writing of this assessment, the southeastern U.S. is the only area in which an appreciable increase in the population of this species has occurred, this following a moratorium on catch in 1990 (Figure 1 in the Supplementary Information). This is also the only area where reasonably accurate historical landings and effort data are available, and the only area in which a quantitative stock assessment analysis has been completed (SEDAR 47 2016). Even though official historical quantitative records are poor to non-existent, it is clear from well-documented anecdotal observations that a rapid decline occurred over at least the past 50 years as fishing intensity increased and as mangroves declined over the 1970s to 1990s. Therefore, this species is suspected to have declined on a global-level by at least 30% or more since the early 1950s, which covers a time period of about three generation lengths (at least 64.5 years)."
