Short Interest in Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) Increases By 108.3%

Key Points

• Short interest in Fortescue Ltd. rose by 108.3% in September, totaling 55,400 shares as of the end of the month.
• The company recently declared a dividend of $0.758 per share, which yields an impressive 555.0% for investors.
• Wall Street analysts have mixed opinions on Fortescue, with ratings ranging from "Strong Buy" to "Strong Sell," resulting in a consensus rating of "Hold."

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY - Get Free Report) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totaling 55,400 shares, an increase of 108.3% from the September 15th total of 26,600 shares. Based on an average trading volume of 113,000 shares, the short-interest ratio is currently 0.5 days. Based on an average trading volume of 113,000 shares, the short-interest ratio is currently 0.5 days.

Fortescue Trading Up 1.2%

Shares of FSUGY stock traded up $0.32 during trading hours on Monday, reaching $26.43. The company had a trading volume of 59,447 shares, compared to its average volume of 114,514. Fortescue has a 12 month low of $16.41 and a 12 month high of $26.97. The company has a quick ratio of 1.84, a current ratio of 2.43 and a debt-to-equity ratio of 0.26. The business has a fifty day simple moving average of $25.26 and a 200-day simple moving average of $22.35.

Fortescue Dividend Announcement

The firm also recently declared a dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 8th were given a dividend of $0.758 per share. This represents a dividend yield of 555.0%. The ex-dividend date of this dividend was Friday, September 5th.

Wall Street Analysts Forecast Growth

FSUGY has been the topic of several recent research reports. Macquarie lowered Fortescue from a "hold" rating to a "strong sell" rating in a report on Thursday, July 24th. Royal Bank Of Canada lowered Fortescue from a "moderate buy" rating to a "hold" rating in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold".

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.

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