Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) Stock Short Interest Falls 86.8%

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) saw a large decrease in short interest in October. As of October 30th, there was short interest totaling 3,306 shares, a decrease of 86.8% from the October 15th total of 25,103 shares. Based on an average daily volume of 366,192 shares, the short-interest ratio is presently 0.0 days. Currently, 0.0% of the company’s stock are short sold.

Analyst Ratings Changes

FSUGY has been the subject of several recent analyst reports. Zacks Research downgraded Fortescue from a “hold” rating to a “strong sell” rating in a report on Thursday, October 8th. Jefferies Financial Group raised shares of Fortescue from a “moderate sell” rating to a “hold” rating in a research note on Thursday, August 20th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Fortescue has a consensus rating of “Sell” and a consensus price target of $16.90.

Fortescue Stock Down 2.3%

Fortescue stock opened at $20.88 on Wednesday. The company’s 50-day moving average is $22.28 and its 200-day moving average is $26.73. Fortescue has a fifty-two week low of $19.66 and a fifty-two week high of $33.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.76 and a current ratio of 2.32.

Fortescue Company Profile

Fortescue is an Australian resources company best known for producing and exporting iron ore. Founded in 2003, the company operates mines, processing facilities, railways and port infrastructure in Western Australia’s Pilbara region. Its iron ore products are shipped to customers in international markets, particularly in Asia. Alongside its metals business, Fortescue is developing energy projects focused on renewable power, green hydrogen and related products such as green ammonia. The company has also outlined plans to reduce emissions from its operations and support the broader transition to lower-emissions energy.