Fortescue Ltd (OTCMKTS:FSUGY) Short Interest Update

Fortescue Ltd (OTCMKTS:FSUGY - Get Free Report) saw a significant decrease in short interest in May. As of May 31st, there was short interest totalling 6,900 shares, a decrease of 96.8% from the May 15th total of 218,900 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily volume of 128,800 shares, the days-to-cover ratio is currently 0.1 days.

Fortescue Stock Performance

Shares of Fortescue stock traded up $0.67 during mid-day trading on Thursday, reaching $21.19. 44,045 shares of the stock traded hands, compared to its average volume of 156,122. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.67 and a quick ratio of 2.10. The business has a 50-day moving average of $20.05 and a 200 day moving average of $21.79. Fortescue has a fifty-two week low of $16.41 and a fifty-two week high of $31.70.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Citigroup raised shares of Fortescue from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 29th. The Goldman Sachs Group raised shares of Fortescue from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 8th.

About Fortescue

Fortescue Ltd engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. It explores for copper, gold, and lithium deposits; and rare earth elements. The company provides port towage services; owns and operates rail and port facilities; and focuses on producing green energy and green hydrogen, including derivatives comprising green ammonia.