Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) Short Interest Up 74.4% in July

Key Points

• Short interest in Fortescue Ltd. increased by 74.4%, rising to 66,100 shares as of July 31st, 2023, from 37,900 shares on July 15th, indicating heightened investor concern.
• Brokerage ratings for Fortescue have varied, with Citigroup upgrading the stock to a "strong-buy" on April 29th, while Macquarie downgraded it to a "strong sell" on July 24th.
• Fortescue Ltd. shares traded down to $25.44 recently, with a 52-week range between $16.41 and $28.32, reflecting volatility in its stock performance.

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY - Get Free Report) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 66,100 shares, anincreaseof74.4% from the July 15th total of 37,900 shares. Based on an average daily trading volume, of 132,800 shares, the short-interest ratio is presently 0.5 days. Currently,0.0% of the company's shares are sold short. Currently,0.0% of the company's shares are sold short. Based on an average daily trading volume, of 132,800 shares, the short-interest ratio is presently 0.5 days.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FSUGY shares. Citigroup upgraded shares of Fortescue from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 29th. Macquarie downgraded shares of Fortescue from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Fortescue presently has a consensus rating of "Hold".

Fortescue Trading Up 1.1%

Shares of OTCMKTS FSUGY traded up $0.29 during midday trading on Friday, reaching $25.60. The stock had a trading volume of 40,513 shares, compared to its average volume of 50,929. Fortescue has a twelve month low of $16.41 and a twelve month high of $28.32. The company has a quick ratio of 1.96, a current ratio of 2.70 and a debt-to-equity ratio of 0.27. The company's 50 day moving average price is $22.55 and its 200 day moving average price is $21.37.

Fortescue Company Profile

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.