Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) Short Interest Up 1,303.7% in July

Key Points

• Fortescue Ltd. experienced a 1,303.7% increase in short interest in July, with total short interest rising to 37,900 shares by July 15th.
• Equities analysts have issued mixed ratings for Fortescue, with Macquarie downgrading the stock to a "strong sell" while Citigroup upgraded it to a "strong buy".
• The current stock price is $23.07, with a 52-week range between $16.41 and $28.32, and a debt-to-equity ratio of 0.27.

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY - Get Free Report) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 37,900 shares, agrowthof1,303.7% from the June 30th total of 2,700 shares. Based on an average daily trading volume, of 112,900 shares, the short-interest ratio is presently 0.3 days. Based on an average daily trading volume, of 112,900 shares, the short-interest ratio is presently 0.3 days.

Fortescue Price Performance

Fortescue stock traded up $0.34 during mid-day trading on Wednesday, reaching $24.08. 42,478 shares of the stock traded hands, compared to its average volume of 138,543. The business's 50-day moving average is $21.25 and its 200-day moving average is $21.22. The company has a quick ratio of 1.96, a current ratio of 2.70 and a debt-to-equity ratio of 0.27. Fortescue has a 12-month low of $16.41 and a 12-month high of $28.32.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Macquarie cut Fortescue from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 24th. The Goldman Sachs Group raised Fortescue from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 8th. Finally, Citigroup raised Fortescue from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 29th.

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.