Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) Shares Shorted: Short Interest Up 62.4% in September

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 40,518 shares, an increase of 62.4% from the August 31st total of 24,952 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 219,918 shares, the short-interest ratio is currently 0.2 days.

Analyst Ratings Changes

Several equities analysts have issued reports on FSUGY shares. Zacks Research downgraded Fortescue from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group cut Fortescue from a “hold” rating to a “sell” rating and set a $16.90 target price on the stock. in a report on Thursday, July 2nd. Finally, Jefferies Financial Group upgraded Fortescue from a “moderate sell” rating to a “hold” rating in a research note on Thursday, August 20th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Fortescue presently has an average rating of “Reduce” and a consensus price target of $16.90.

Fortescue Trading Up 0.9%

Shares of OTCMKTS FSUGY traded up $0.20 during trading on Wednesday, reaching $22.80. The company had a trading volume of 31,374 shares, compared to its average volume of 74,917. Fortescue has a 52 week low of $22.58 and a 52 week high of $33.44. The business’s 50 day moving average price is $24.91 and its 200-day moving average price is $27.31. The company has a current ratio of 2.32, a quick ratio of 1.76 and a debt-to-equity ratio of 0.27.

Fortescue Company Profile

Fortescue is an Australian resources and energy company that produces and ships iron ore from operations in Western Australia’s Pilbara region. Its mining business includes integrated exploration, development, processing, rail, port and shipping activities, supplying iron ore to steelmakers in international markets, particularly across Asia.

The company is also developing renewable energy and low-emissions technologies through its Fortescue Energy business. Its activities include projects involving green hydrogen, green ammonia, renewable power and other technologies intended to support the decarbonization of heavy industry and transportation.

Founded in 2003, Fortescue was originally known as Fortescue Metals Group before adopting the Fortescue name.