Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) Stock Short Interest Report for September

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totaling 15,977 shares, a decrease of 60.6% from the September 15th total of 40,518 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 242,637 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. The Goldman Sachs Group lowered Fortescue from a “hold” rating to a “sell” rating and set a $16.90 price target on the stock. in a report on Thursday, July 2nd. Jefferies Financial Group raised shares of Fortescue from a “moderate sell” rating to a “hold” rating in a research note on Thursday, August 20th. Finally, Zacks Research downgraded Fortescue from a “hold” rating to a “strong sell” rating in a report on Thursday, October 8th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Sell” and an average target price of $16.90.

Fortescue Trading Down 2.2%

OTCMKTS:FSUGY opened at $20.87 on Thursday. The firm has a 50-day simple moving average of $24.07 and a 200-day simple moving average of $26.90. 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 has a one year low of $20.87 and a one year high of $33.44.

Fortescue Company Profile

Fortescue is an Australian resources and energy company that produces and ships iron ore from operations in Western Australia’s Pilbara region. Its mining business includes integrated exploration, development, processing, rail, port and shipping activities, supplying iron ore to steelmakers in international markets, particularly across Asia.

The company is also developing renewable energy and low-emissions technologies through its Fortescue Energy business. Its activities include projects involving green hydrogen, green ammonia, renewable power and other technologies intended to support the decarbonization of heavy industry and transportation.

Founded in 2003, Fortescue was originally known as Fortescue Metals Group before adopting the Fortescue name.